9,320 Shares in Franco-Nevada Corporation $FNV Acquired by Ruffer LLP

Ruffer LLP purchased a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 9,320 shares of the basic materials company’s stock, valued at approximately $2,078,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Franco-Nevada in the 2nd quarter valued at $460,218,000. Arrowstreet Capital Limited Partnership boosted its stake in Franco-Nevada by 35.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock worth $528,289,000 after acquiring an additional 838,853 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Franco-Nevada in the second quarter worth $80,621,000. Invesco Ltd. increased its stake in Franco-Nevada by 110.6% in the second quarter. Invesco Ltd. now owns 902,017 shares of the basic materials company’s stock valued at $147,859,000 after purchasing an additional 473,697 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in Franco-Nevada by 1,084.0% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 350,236 shares of the basic materials company’s stock valued at $57,411,000 after purchasing an additional 320,656 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FNV. HC Wainwright increased their price objective on shares of Franco-Nevada from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $228.00 price target on shares of Franco-Nevada in a report on Sunday, December 7th. Raymond James Financial raised their price objective on Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Finally, Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $240.00.

Franco-Nevada Stock Performance

Shares of FNV opened at $267.99 on Thursday. The firm has a market capitalization of $51.67 billion, a P/E ratio of 56.18, a P/E/G ratio of 1.48 and a beta of 0.48. Franco-Nevada Corporation has a 52 week low of $130.05 and a 52 week high of $268.80. The stock has a 50 day moving average price of $219.60 and a two-hundred day moving average price of $199.95.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. Franco-Nevada had a net margin of 59.48% and a return on equity of 13.94%. The company had revenue of $487.70 million for the quarter, compared to analyst estimates of $448.51 million. During the same period last year, the firm earned $0.80 earnings per share. The firm’s revenue was up 76.9% on a year-over-year basis. On average, equities analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be paid a $0.44 dividend. The ex-dividend date is Thursday, March 12th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 annualized dividend and a yield of 0.7%. Franco-Nevada’s dividend payout ratio (DPR) is currently 31.87%.

Franco-Nevada 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.