Sanctuary Advisors LLC Purchases Shares of 3,998 Franco-Nevada Corporation $FNV

Sanctuary Advisors LLC purchased a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,998 shares of the basic materials company’s stock, valued at approximately $833,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp lifted its stake in Franco-Nevada by 12.8% during the fourth quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock worth $1,542,402,000 after purchasing an additional 842,132 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Franco-Nevada by 26.5% in the fourth quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock valued at $1,062,037,000 after purchasing an additional 1,074,257 shares during the last quarter. EdgePoint Investment Group Inc. increased its stake in Franco-Nevada by 3.3% in the first quarter. EdgePoint Investment Group Inc. now owns 3,461,224 shares of the basic materials company’s stock valued at $857,196,000 after purchasing an additional 110,222 shares during the last quarter. Royal Bank of Canada raised its holdings in Franco-Nevada by 10.2% during the fourth quarter. Royal Bank of Canada now owns 2,808,645 shares of the basic materials company’s stock worth $582,177,000 after purchasing an additional 260,793 shares in the last quarter. Finally, Norges Bank acquired a new stake in Franco-Nevada during the fourth quarter worth approximately $578,577,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Down 1.8%

FNV opened at $266.33 on Friday. Franco-Nevada Corporation has a 52 week low of $181.50 and a 52 week high of $285.67. The business’s 50 day moving average is $224.15 and its two-hundred day moving average is $236.31. The firm has a market cap of $51.37 billion, a price-to-earnings ratio of 34.81, a price-to-earnings-growth ratio of 2.51 and a beta of 0.35.

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). The firm had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. Franco-Nevada’s revenue was up 57.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share. Equities analysts expect that Franco-Nevada Corporation will post 7.54 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a $0.44 dividend. The ex-dividend date is Thursday, September 10th. This represents a $1.76 annualized dividend and a yield of 0.7%. Franco-Nevada’s dividend payout ratio is 23.01%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Bank of America reduced their price objective 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. Scotiabank cut their price target on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target for the company in a research report on Wednesday, May 20th. UBS Group decreased their price objective on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $273.40.

Franco-Nevada Company 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.