Caisse de depot et placement du Quebec Buys New Holdings in Franco-Nevada Corporation $FNV

Caisse de depot et placement du Quebec purchased a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the second quarter, HoldingsChannel reports. The firm purchased 191,986 shares of the basic materials company’s stock, valued at approximately $40,045,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Transamerica Financial Advisors LLC acquired a new stake in Franco-Nevada in the 4th quarter valued at $25,000. Smartleaf Asset Management LLC raised its holdings in Franco-Nevada by 600.0% during the second 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 shares of Franco-Nevada in the fourth quarter valued at $34,000. Global Retirement Partners LLC bought a new position in shares of Franco-Nevada in the second quarter valued at $35,000. Finally, Quattro Advisors LLC acquired a new position in shares of Franco-Nevada during the fourth quarter valued at about $36,000. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FNV. UBS Group decreased their target price on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. HC Wainwright reiterated a “buy” rating and set a $305.00 price target on shares of Franco-Nevada in a research note on Wednesday, May 13th. Bank of America decreased their price objective on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating and dropped their target price for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. Finally, Wall Street Zen cut Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.40.

Franco-Nevada Stock Up 1.7%

Franco-Nevada stock opened at $271.94 on Friday. Franco-Nevada Corporation has a 52 week low of $181.50 and a 52 week high of $285.67. The company’s 50 day moving average price is $223.21 and its two-hundred day moving average price is $236.10. The stock has a market cap of $52.45 billion, a P/E ratio of 35.55, a P/E/G ratio of 2.47 and a beta of 0.35.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its 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 business had revenue of $580.90 million during the quarter, compared to the consensus estimate of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The business’s revenue was up 57.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.24 earnings per share. On average, equities analysts anticipate that Franco-Nevada Corporation will post 7.54 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, September 10th. Franco-Nevada’s dividend payout ratio is 23.01%.

Franco-Nevada Profile

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.