Quantbot Technologies LP Invests $1.43 Million in Franco-Nevada Corporation $FNV

Quantbot Technologies LP bought a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the second quarter, HoldingsChannel reports. The firm bought 6,877 shares of the basic materials company’s stock, valued at approximately $1,433,000.

Several other large investors have also modified their holdings of the stock. Transamerica Financial Advisors LLC bought a new stake in Franco-Nevada in the fourth quarter valued at about $25,000. Smartleaf Asset Management LLC lifted its holdings in Franco-Nevada by 600.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after buying an additional 168 shares during the last quarter. Navalign LLC bought a new position in Franco-Nevada during the 4th quarter worth approximately $34,000. Global Retirement Partners LLC bought a new position in Franco-Nevada during the 2nd quarter worth approximately $35,000. Finally, Dunhill Financial LLC acquired a new position in shares of Franco-Nevada in the 2nd quarter worth approximately $36,000. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. TD raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 target price for the company in a research note on Wednesday, May 20th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and dropped their target price for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. Finally, Wall Street Zen downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $273.40.

Franco-Nevada Trading Up 0.6%

NYSE:FNV opened at $271.84 on Wednesday. The firm has a market capitalization of $52.43 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 2.49 and a beta of 0.35. The stock has a 50 day moving average of $221.36 and a 200-day moving average of $235.52. Franco-Nevada Corporation has a 52 week low of $181.50 and a 52 week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). The company had revenue of $580.90 million during the quarter, compared to the consensus estimate of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The company’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period last year, the business posted $1.24 EPS. As a group, analysts predict that Franco-Nevada Corporation will post 7.54 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.76 annualized dividend and a yield of 0.6%. Franco-Nevada’s dividend payout ratio (DPR) is currently 23.01%.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.