Edmond DE Rothschild Holding S.A. Makes New Investment in Franco-Nevada Corporation $FNV

Edmond DE Rothschild Holding S.A. bought a new stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the 2nd quarter, HoldingsChannel reports. The fund bought 26,425 shares of the basic materials company’s stock, valued at approximately $5,495,000.

A number of other institutional investors and hedge funds also recently modified their holdings of FNV. Norges Bank acquired a new position in shares of Franco-Nevada in the 4th quarter valued at about $578,577,000. Deutsche Bank AG acquired a new position in Franco-Nevada in the second quarter valued at approximately $372,435,000. First Eagle Investment Management LLC grew its holdings in shares of Franco-Nevada by 26.5% during the fourth quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock valued at $1,062,037,000 after purchasing an additional 1,074,257 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Franco-Nevada by 12.8% in the 4th quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock worth $1,542,402,000 after purchasing an additional 842,132 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in Franco-Nevada by 100.2% during the 4th quarter. Capital Research Global Investors now owns 1,277,889 shares of the basic materials company’s stock valued at $264,882,000 after purchasing an additional 639,493 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. 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. TD Cowen raised shares of 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. UBS Group cut their price objective on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, Scotiabank reduced their target price on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $273.40.

Franco-Nevada Price Performance

NYSE FNV opened at $251.54 on Thursday. Franco-Nevada Corporation has a 12 month low of $173.84 and a 12 month high of $285.67. The firm has a market capitalization of $48.51 billion, a PE ratio of 32.88, a P/E/G ratio of 2.13 and a beta of 0.35. The company’s 50 day simple moving average is $217.44 and its 200 day simple moving average is $234.66.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing the consensus estimate 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 last year, the company earned $1.24 EPS. The company’s quarterly revenue was up 57.3% compared to the same quarter last year. Sell-side analysts anticipate that Franco-Nevada Corporation will post 7.6 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

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

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.