Franco-Nevada Corporation $FNV Shares Bought by Carrhae Capital LLP

Carrhae Capital LLP grew its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 162.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 293,772 shares of the basic materials company’s stock after buying an additional 181,718 shares during the quarter. Franco-Nevada accounts for about 2.3% of Carrhae Capital LLP’s investment portfolio, making the stock its 12th largest holding. Carrhae Capital LLP’s holdings in Franco-Nevada were worth $60,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Franco-Nevada by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 8,330,234 shares of the basic materials company’s stock valued at $1,726,741,000 after acquiring an additional 113,916 shares during the last quarter. Bank of Montreal Can increased its position in shares of Franco-Nevada by 8.9% in the 3rd quarter. Bank of Montreal Can now owns 5,560,980 shares of the basic materials company’s stock worth $1,237,510,000 after purchasing an additional 454,175 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of Franco-Nevada by 26.5% in the 4th quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock worth $1,062,037,000 after purchasing an additional 1,074,257 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Franco-Nevada by 76.0% in the 3rd quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company’s stock valued at $525,925,000 after purchasing an additional 1,020,509 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Franco-Nevada by 0.9% in the 3rd quarter. TD Asset Management Inc now owns 2,030,684 shares of the basic materials company’s stock valued at $452,095,000 after purchasing an additional 18,897 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Down 0.0%

Shares of Franco-Nevada stock opened at $225.75 on Friday. The stock has a market capitalization of $43.54 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 1.95 and a beta of 0.34. Franco-Nevada Corporation has a twelve month low of $152.89 and a twelve month high of $285.67. The business’s 50 day simple moving average is $242.33 and its 200-day simple moving average is $232.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.29. The business had revenue of $650.70 million during the quarter, compared to analyst estimates of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business’s revenue for the quarter was up 76.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 EPS. Sell-side analysts predict that Franco-Nevada Corporation will post 8.84 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. Franco-Nevada’s payout ratio is 24.79%.

Analysts Set New Price Targets

A number of equities analysts recently commented on FNV shares. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target for the company in a research note on Wednesday. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. Finally, TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and dropped their price target for the company from $292.00 to $291.00 in a research report on Wednesday. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $271.00.

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.