Northwestern Mutual Wealth Management Co. Invests $463,000 in Franco-Nevada Corporation $FNV

Northwestern Mutual Wealth Management Co. bought a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 2,220 shares of the basic materials company’s stock, valued at approximately $463,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FNV. Composition Wealth LLC boosted its holdings in Franco-Nevada by 0.8% in the fourth quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock worth $1,266,000 after acquiring an additional 49 shares in the last quarter. Clark Capital Management Group Inc. grew its stake in Franco-Nevada by 1.0% in the fourth quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company’s stock valued at $1,048,000 after acquiring an additional 50 shares during the period. Syon Capital LLC increased its holdings in shares of Franco-Nevada by 2.1% during the fourth quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 51 shares in the last quarter. PFG Investments LLC increased its holdings in shares of Franco-Nevada by 0.7% during the first quarter. PFG Investments LLC now owns 7,211 shares of the basic materials company’s stock valued at $1,782,000 after acquiring an additional 52 shares in the last quarter. Finally, Guardian Partners Inc. raised its position in shares of Franco-Nevada by 3.2% during the fourth quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company’s stock worth $351,000 after purchasing an additional 52 shares during the period. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Down 1.7%

Shares of NYSE FNV opened at $267.28 on Thursday. The company has a market capitalization of $51.55 billion, a PE ratio of 34.94, a PEG ratio of 2.51 and a beta of 0.35. The stock’s 50 day moving average price is $222.16 and its 200-day moving average price is $235.82. Franco-Nevada Corporation has a twelve month low of $181.50 and a twelve month high of $285.67.

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

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, September 10th. Franco-Nevada’s dividend payout ratio (DPR) is 23.01%.

Analyst Ratings Changes

FNV has been the subject of several research reports. Bank of America reduced their price target on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. National Bank Financial upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. UBS Group reduced their price objective on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Jefferies Financial Group decreased their target price on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $273.40.

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.