Northwestern Mutual Wealth Management Co. Invests $463,000 in Franco-Nevada Corporation $FNV

Northwestern Mutual Wealth Management Co. bought a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the second quarter, Holdings Channel.com reports. The firm bought 2,220 shares of the basic materials company’s stock, valued at approximately $463,000.

Other institutional investors also recently modified their holdings of the company. Transamerica Financial Advisors LLC purchased a new position in shares of Franco-Nevada in the fourth quarter valued at $25,000. Smartleaf Asset Management LLC boosted its stake 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 worth $32,000 after purchasing an additional 168 shares during the period. Navalign LLC purchased a new position in Franco-Nevada during the 4th quarter valued at about $34,000. Global Retirement Partners LLC purchased a new stake in shares of Franco-Nevada in the second quarter worth about $35,000. Finally, Dunhill Financial LLC purchased a new stake in Franco-Nevada in the 2nd quarter worth approximately $36,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Stock Performance

NYSE FNV opened at $267.28 on Thursday. The company has a market capitalization of $51.55 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 2.51 and a beta of 0.35. The stock has a 50-day moving average of $222.16 and a 200 day moving average of $235.82. Franco-Nevada Corporation has a one year low of $181.50 and a one year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The company had revenue of $580.90 million during the quarter, compared to the consensus estimate of $616.66 million. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The business’s revenue was up 57.3% compared to the same quarter last year. On average, equities analysts predict that Franco-Nevada Corporation will post 7.54 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada’s payout ratio is currently 23.01%.

Wall Street Analysts Forecast Growth

FNV has been the subject of several research analyst reports. Weiss Ratings lowered shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Jefferies Financial Group reduced their target price on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating and lowered their price target for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. Finally, HC Wainwright reissued a “buy” rating and set a $305.00 price objective on shares of Franco-Nevada in a report on Wednesday, May 13th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $273.40.

About Franco-Nevada

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.