Franco-Nevada Corporation $FNV Shares Acquired by Winmill & CO. Inc.

Winmill & CO. Inc. boosted its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 73.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,000 shares of the basic materials company’s stock after buying an additional 3,400 shares during the quarter. Winmill & CO. Inc.’s holdings in Franco-Nevada were worth $1,658,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FNV. Legal & General Group Plc grew its holdings in Franco-Nevada by 6.0% in the 3rd quarter. Legal & General Group Plc now owns 986,672 shares of the basic materials company’s stock valued at $219,665,000 after buying an additional 55,954 shares during the period. Addenda Capital Inc. boosted its position in shares of Franco-Nevada by 88.1% in the fourth quarter. Addenda Capital Inc. now owns 203,643 shares of the basic materials company’s stock worth $42,211,000 after acquiring an additional 95,405 shares during the last quarter. TD Asset Management Inc grew its holdings in Franco-Nevada by 0.9% in the third quarter. TD Asset Management Inc now owns 2,030,684 shares of the basic materials company’s stock valued at $452,095,000 after purchasing an additional 18,897 shares during the period. Crescent Grove Advisors LLC purchased a new stake in Franco-Nevada in the fourth quarter valued at approximately $489,000. Finally, Mackenzie Financial Corp increased its position in Franco-Nevada by 76.0% during the third quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company’s stock worth $525,925,000 after purchasing an additional 1,020,509 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FNV has been the topic of a number of recent analyst reports. National Bank Financial raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research cut shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. Scotiabank lifted their target price on Franco-Nevada from $286.00 to $290.00 and gave the company a “sector perform” rating in a report on Thursday, May 14th. Finally, Weiss Ratings downgraded Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $271.00.

Franco-Nevada Stock Up 0.1%

Shares of FNV stock opened at $209.68 on Monday. Franco-Nevada Corporation has a fifty-two week low of $152.89 and a fifty-two week high of $285.67. The firm’s 50 day moving average price is $236.90 and its two-hundred day moving average price is $236.11. The stock has a market cap of $40.44 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 1.82 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.29. The business had revenue of $650.70 million for the quarter, compared to the consensus estimate of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The business’s revenue for the quarter was up 76.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 EPS. On average, equities analysts forecast that Franco-Nevada Corporation will post 8.85 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

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

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.