Clark Capital Management Group Inc. Takes Position in Franco-Nevada Corporation $FNV

Clark Capital Management Group Inc. acquired a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,004 shares of the basic materials company’s stock, valued at approximately $1,115,000.

Several other large investors have also made changes to their positions in FNV. MTM Investment Management LLC acquired a new position in Franco-Nevada in the second quarter valued at $32,000. Smartleaf Asset Management LLC increased its stake 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 acquiring an additional 168 shares during the last quarter. City Holding Co. acquired a new stake in Franco-Nevada during the third quarter worth about $56,000. Montag A & Associates Inc. raised its holdings in shares of Franco-Nevada by 150.0% in the 3rd quarter. Montag A & Associates Inc. now owns 250 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 150 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Franco-Nevada by 19.6% in the 3rd quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 71 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $253.87 on Tuesday. Franco-Nevada Corporation has a 1-year low of $140.03 and a 1-year high of $285.67. The business has a 50-day moving average of $251.58 and a 200-day moving average of $220.27. The company has a market capitalization of $48.95 billion, a price-to-earnings ratio of 44.07, a PEG ratio of 3.65 and a beta of 0.45.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.18. The business had revenue of $597.30 million during the quarter, compared to analyst estimates of $542.02 million. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.The company’s revenue for the quarter was up 86.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Research analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.7%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 12th. Franco-Nevada’s dividend payout ratio is 30.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FNV shares. Jefferies Financial Group reiterated a “hold” rating and set a $228.00 target price on shares of Franco-Nevada in a report on Sunday, December 7th. UBS Group restated a “buy” rating and issued a $310.00 price target on shares of Franco-Nevada in a report on Friday, January 30th. Scotiabank lifted their price target on shares of Franco-Nevada from $283.00 to $286.00 and gave the company a “sector perform” rating in a research report on Monday. Canaccord Genuity Group downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Royal Bank Of Canada raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $225.00 to $250.00 in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $257.25.

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.