Franco-Nevada Corporation $FNV Stake Raised by Euro Pacific Asset Management LLC

Euro Pacific Asset Management LLC increased its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 251,982 shares of the basic materials company’s stock after purchasing an additional 2,824 shares during the quarter. Franco-Nevada accounts for 4.1% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 5th biggest position. Euro Pacific Asset Management LLC’s holdings in Franco-Nevada were worth $59,999,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Silicon Valley Capital Partners acquired a new position in Franco-Nevada in the second quarter valued at approximately $31,000. Laurel Wealth Advisors LLC bought a new position in Franco-Nevada in the third quarter valued at approximately $36,000. Ascentis Independent Advisors acquired a new stake in Franco-Nevada during the 1st quarter worth $39,000. Transamerica Financial Advisors LLC acquired a new stake in Franco-Nevada during the 2nd quarter worth $33,000. Finally, Global Retirement Partners LLC acquired a new stake in Franco-Nevada during the 2nd quarter worth $35,000. 77.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on FNV shares. Weiss Ratings upgraded shares of Franco-Nevada from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Zacks Research raised Franco-Nevada from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Scotiabank reduced their price target on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada lifted their price objective on Franco-Nevada from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and an average target price of $275.30.

Franco-Nevada Price Performance

Shares of FNV stock opened at $254.81 on Monday. The stock has a market cap of $49.15 billion, a PE ratio of 33.31, a price-to-earnings-growth ratio of 2.96 and a beta of 0.34. The stock has a 50-day moving average of $248.82 and a 200-day moving average of $240.07. Franco-Nevada Corporation has a one year low of $187.47 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 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The firm had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. During the same quarter in the prior year, the business earned $1.24 earnings per share. The business’s revenue was up 57.3% on a year-over-year basis. As a group, research analysts anticipate that Franco-Nevada Corporation will post 7.40 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were issued a $0.44 dividend. The ex-dividend date was Thursday, September 10th. This represents a $1.76 annualized dividend and a yield of 0.7%. Franco-Nevada’s dividend payout ratio (DPR) is 23.01%.

Franco-Nevada Profile

Franco-Nevada is a Toronto-based company that provides financing to mining and energy businesses in exchange for royalties, streams and other interests in production. Rather than operating mines itself, it gives partners capital and receives a share of revenue or future output from their projects.

The company’s portfolio is focused on gold and other precious metals, and also includes interests in other minerals and energy assets, including oil and gas. Its projects and counterparties span multiple regions, including North and South America, Africa, Australia and Europe.

Franco-Nevada traces its origins to 1983.