OMERS ADMINISTRATION Corp Has $3.30 Million Stock Position in Franco-Nevada Corporation $FNV

OMERS ADMINISTRATION Corp lifted its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 38.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,355 shares of the basic materials company’s stock after purchasing an additional 3,724 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Franco-Nevada were worth $3,296,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in FNV. Sustainable Insight Capital Management LLC raised its stake in Franco-Nevada by 6.8% during the 1st quarter. Sustainable Insight Capital Management LLC now owns 4,056 shares of the basic materials company’s stock worth $1,004,000 after buying an additional 257 shares during the period. Cannell & Spears LLC grew its stake in Franco-Nevada by 0.6% in the first quarter. Cannell & Spears LLC now owns 177,954 shares of the basic materials company’s stock valued at $42,297,000 after acquiring an additional 1,092 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Franco-Nevada by 1,381.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 132,612 shares of the basic materials company’s stock valued at $32,820,000 after acquiring an additional 123,658 shares during the period. Public Employees Retirement System of Ohio grew its stake in Franco-Nevada by 12.2% in the first quarter. Public Employees Retirement System of Ohio now owns 111,326 shares of the basic materials company’s stock valued at $27,477,000 after acquiring an additional 12,137 shares during the period. Finally, Compound Planning Inc. increased its holdings in shares of Franco-Nevada by 14.8% during the first quarter. Compound Planning Inc. now owns 2,455 shares of the basic materials company’s stock valued at $607,000 after acquiring an additional 317 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on FNV. Zacks Research cut Franco-Nevada from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. TD upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and decreased their price target for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. Wall Street Zen downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings downgraded shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, Jefferies Financial Group dropped their price objective on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. Eleven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. 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 Price Performance

Shares of FNV stock opened at $214.25 on Tuesday. The firm has a 50-day moving average of $215.85 and a 200-day moving average of $236.63. The company has a market cap of $41.32 billion, a P/E ratio of 30.18, a P/E/G ratio of 1.81 and a beta of 0.36. Franco-Nevada Corporation has a one year low of $157.18 and a one year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.29. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The business had revenue of $650.70 million for the quarter, compared to analysts’ expectations of $634.43 million. During the same period in the previous year, the company earned $1.07 earnings per share. The firm’s revenue for the quarter was up 76.6% compared to the same quarter last year. As a group, research analysts expect that Franco-Nevada Corporation will post 8.23 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is currently 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.