Mitsubishi UFJ Trust & Banking Corp Buys 3,400 Shares of Franco-Nevada Corporation $FNV

by · The Cerbat Gem

Mitsubishi UFJ Trust & Banking Corp increased its position in Franco-Nevada Corporation (NYSE:FNV – Free Report) (TSE:FNV) by 27.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,000 shares of the basic materials company’s stock after acquiring an additional 3,400 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Franco-Nevada were worth $3,561,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC bought a new position in Franco-Nevada in the 1st quarter valued at $241,000. NewEdge Advisors LLC raised its position in shares of Franco-Nevada by 16.7% in 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 in the last quarter. Intech Investment Management LLC boosted 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 valued at $1,460,000 after buying an additional 5,032 shares during the period. Acadian Asset Management LLC grew its position in Franco-Nevada by 800.0% during the first quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock worth $424,000 after buying an additional 2,400 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Franco-Nevada by 257.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 973 shares of the basic materials company’s stock worth $159,000 after acquiring an additional 701 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FNV shares. Weiss Ratings downgraded Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Zacks Research lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. TD Securities cut their price target on shares of Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a research note on Wednesday, November 5th. Canaccord Genuity Group cut shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Scotiabank upped their target price on shares of Franco-Nevada from $225.00 to $283.00 and gave the stock a “sector perform” rating in a research report on Monday. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Franco-Nevada presently has an average rating of “Hold” and a consensus price target of $240.00.

Get Our Latest Analysis on FNV

Franco-Nevada Stock Performance

FNV stock opened at $262.06 on Friday. The company has a market capitalization of $50.52 billion, a PE ratio of 54.94, a price-to-earnings-growth ratio of 1.51 and a beta of 0.48. Franco-Nevada Corporation has a one year low of $133.46 and a one year high of $273.56. The company’s 50 day moving average price is $221.04 and its two-hundred day moving average price is $200.38.

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

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 12th. Franco-Nevada’s payout ratio is 31.87%.

About Franco-Nevada

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco-Nevada Corporation (NYSE:FNV – Free Report) (TSE:FNV).