Quantbot Technologies LP Makes New $1.43 Million Investment in Franco-Nevada Corporation $FNV

Quantbot Technologies 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 6,877 shares of the basic materials company’s stock, valued at approximately $1,433,000.

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

Franco-Nevada Trading Up 0.6%

Shares of FNV stock opened at $271.84 on Wednesday. The company has a market capitalization of $52.43 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 2.49 and a beta of 0.35. The firm has a fifty day simple moving average of $221.36 and a 200-day simple moving average of $235.52. Franco-Nevada Corporation has a twelve month low of $181.50 and a twelve month high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $616.66 million. During the same period in the previous year, the business posted $1.24 earnings per share. Franco-Nevada’s revenue for the quarter was up 57.3% on a year-over-year basis. Equities research analysts predict that Franco-Nevada Corporation will post 7.54 EPS for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, September 10th. Franco-Nevada’s payout ratio is presently 23.01%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FNV shares. HC Wainwright reissued a “buy” rating and issued a $305.00 target price on shares of Franco-Nevada in a research note on Wednesday, May 13th. 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 report on Wednesday, May 20th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and cut their price objective for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Royal Bank Of Canada cut their price objective on Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $273.40.

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.