McAlvany Wealth Management LLC Takes $4.65 Million Position in Franco-Nevada Corporation $FNV

McAlvany Wealth Management LLC acquired a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the fourth quarter, Holdings Channel reports. The fund acquired 22,451 shares of the basic materials company’s stock, valued at approximately $4,654,000. Franco-Nevada comprises 3.6% of McAlvany Wealth Management LLC’s investment portfolio, making the stock its 7th biggest position.

Several other institutional investors have also made changes to their positions in FNV. GAMMA Investing LLC increased its stake in Franco-Nevada by 112.3% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 64 shares during the period. Transamerica Financial Advisors LLC bought a new position in Franco-Nevada during the fourth quarter worth about $25,000. Burkett Financial Services LLC bought a new position in Franco-Nevada during the third quarter worth about $28,000. Private Trust Co. NA acquired a new stake in Franco-Nevada during the fourth quarter valued at approximately $29,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FNV. 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 cut their target price for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. TD raised Franco-Nevada from a “hold” rating to a “buy” rating and decreased their price target for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, HC Wainwright reiterated a “buy” rating and set a $305.00 price objective on shares of Franco-Nevada in a research note on Wednesday, May 13th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $271.00.

Franco-Nevada Stock Up 0.1%

NYSE:FNV opened at $219.47 on Friday. The firm has a market cap of $42.33 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 1.91 and a beta of 0.34. Franco-Nevada Corporation has a 12 month low of $152.89 and a 12 month high of $285.67. The company’s 50-day moving average price is $233.32 and its two-hundred day moving average price is $236.52.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.29. The company had revenue of $650.70 million during the quarter, compared to analyst estimates of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The company’s revenue was up 76.6% on a year-over-year basis. During the same quarter last year, the business posted $1.07 earnings per share. On average, research analysts expect that Franco-Nevada Corporation will post 8.85 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

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

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.