Regal Partners Ltd Makes New Investment in Franco-Nevada Corporation $FNV

Regal Partners Ltd acquired a new stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 23,218 shares of the basic materials company’s stock, valued at approximately $5,736,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FNV. GAMMA Investing LLC lifted its holdings in shares of Franco-Nevada by 112.3% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after buying an additional 64 shares in the last quarter. Transamerica Financial Advisors LLC purchased a new position in Franco-Nevada during the fourth quarter valued at $25,000. Private Trust Co. NA bought a new stake in Franco-Nevada in the 4th quarter valued at $29,000. Smartleaf Asset Management LLC increased its holdings in Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares during the last quarter. Finally, Navalign LLC purchased a new stake in Franco-Nevada in the 4th quarter worth $34,000. Institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and dropped their price objective for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. Weiss Ratings downgraded Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. HC Wainwright restated a “buy” rating and set a $305.00 price target on shares of Franco-Nevada in a report on Wednesday, May 13th. Finally, Jefferies Financial Group decreased their price objective on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a report on Monday, July 6th. Eleven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus price target of $273.40.

Franco-Nevada Trading Down 1.7%

Shares of NYSE FNV opened at $210.70 on Wednesday. Franco-Nevada Corporation has a 12-month low of $157.18 and a 12-month high of $285.67. The firm’s 50-day moving average price is $215.62 and its 200-day moving average price is $236.58. The stock has a market capitalization of $40.64 billion, a price-to-earnings ratio of 29.68, a P/E/G ratio of 1.81 and a beta of 0.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.09 by $0.29. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The company had revenue of $650.70 million during the quarter, compared to analyst estimates of $634.43 million. During the same quarter last year, the business posted $1.07 earnings per share. The firm’s revenue was up 76.6% on a year-over-year basis. On average, equities analysts predict that Franco-Nevada Corporation will post 8.23 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. Franco-Nevada’s payout ratio is 24.79%.

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.