Corient Private Wealth LP Invests $6.10 Million in Franco-Nevada Corporation $FNV

Corient Private Wealth LP acquired a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 29,278 shares of the basic materials company’s stock, valued at approximately $6,103,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC purchased a new position in shares of Franco-Nevada in the 1st quarter valued at $241,000. NewEdge Advisors LLC boosted its position in Franco-Nevada by 16.7% during the 1st quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock worth $1,038,000 after purchasing an additional 943 shares during the period. Intech Investment Management LLC boosted its position in Franco-Nevada by 118.3% during the 1st quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock worth $1,460,000 after purchasing an additional 5,032 shares during the period. Acadian Asset Management LLC increased its holdings in Franco-Nevada by 800.0% in the 1st quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock valued at $424,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Franco-Nevada in the 2nd quarter valued at $1,477,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock opened at $263.04 on Tuesday. The firm has a market cap of $50.73 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 2.46 and a beta of 0.35. The firm’s 50-day simple moving average is $224.99 and its 200-day simple moving average is $236.28. Franco-Nevada Corporation has a 1 year low of $181.50 and a 1 year high of $285.67.

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 (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The firm had revenue of $580.90 million for the quarter, compared to the consensus estimate of $616.66 million. During the same quarter last year, the business earned $1.24 earnings per share. The business’s revenue for the quarter 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 year.

Franco-Nevada Announces Dividend

The company 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. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, September 10th. Franco-Nevada’s payout ratio is presently 23.01%.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of recent research reports. Wall Street Zen cut Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Zacks Research upgraded Franco-Nevada from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings lowered Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating and dropped their target price for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. Finally, TD raised Franco-Nevada from a “hold” rating to a “buy” rating and reduced their price target for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.