Lafayette Investments Inc. Raises Holdings in Franco-Nevada Corporation $FNV

Lafayette Investments Inc. lifted its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 7.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,455 shares of the basic materials company’s stock after buying an additional 169 shares during the quarter. Lafayette Investments Inc.’s holdings in Franco-Nevada were worth $402,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FNV. Massachusetts Financial Services Co. MA lifted its stake in Franco-Nevada by 1.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company’s stock worth $1,923,400,000 after acquiring an additional 207,232 shares during the period. Vanguard Group Inc. raised its holdings in shares of Franco-Nevada by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,845,339 shares of the basic materials company’s stock valued at $1,233,891,000 after purchasing an additional 45,924 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Franco-Nevada by 4.4% in the 2nd quarter. TD Asset Management Inc now owns 2,011,787 shares of the basic materials company’s stock worth $329,626,000 after purchasing an additional 85,117 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Franco-Nevada by 1.7% during the first quarter. The Manufacturers Life Insurance Company now owns 1,980,772 shares of the basic materials company’s stock valued at $313,071,000 after purchasing an additional 33,044 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Franco-Nevada by 16.0% during the first quarter. Mackenzie Financial Corp now owns 1,756,344 shares of the basic materials company’s stock valued at $276,224,000 after purchasing an additional 242,196 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FNV. Canaccord Genuity Group downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. TD Securities boosted their price target on Franco-Nevada from $182.00 to $184.00 and gave the stock a “hold” rating in a research report on Tuesday, August 12th. HC Wainwright upped their price objective on Franco-Nevada from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Raymond James Financial lifted their target price on Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Finally, CIBC reissued an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Franco-Nevada presently has a consensus rating of “Hold” and an average price target of $210.29.

Franco-Nevada Price Performance

Shares of NYSE:FNV opened at $205.20 on Tuesday. The business’s 50-day moving average is $199.80 and its 200 day moving average is $176.99. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $225.63. The firm has a market capitalization of $39.55 billion, a P/E ratio of 50.42, a P/E/G ratio of 1.91 and a beta of 0.42.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. The business had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The company’s revenue was up 42.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. On average, analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. Franco-Nevada’s payout ratio is 37.35%.

About Franco-Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.