LifePro Asset Management, a renowned asset management firm, has significantly increased its stake in Franco-Nevada Co. during the second quarter of this year, as reported in its recent filing with the US Securities and Exchange Commission (SEC). The company revealed that it acquired an additional 19,347 shares of Franco-Nevada, resulting in a remarkable 928.4% increase in its holdings.
With this transaction, LifePro Asset Management now owns 21,431 shares of Franco-Nevada’s stock, making it the 15th largest position in their investment portfolio. The current value of their holdings stands at $3,056,000.
Franco-Nevada is a basic materials company known for its strong presence and expertise in the mining industry. As an important player in the sector, it continuously attracts investments from prominent companies like LifePro Asset Management.
In addition to its recent stake increase, Franco-Nevada announced the declaration of a quarterly dividend. Shareholders of record as of September 14th will receive a $0.34 dividend on Thursday, September 28th. With an annualized dividend of $1.36 and a yield of 0.94%, this represents an attractive opportunity for investors looking to secure regular returns.
Currently boasting a dividend payout ratio of 39.42%, Franco-Nevada demonstrates a commitment to rewarding its shareholders through consistent dividend payments.
These recent developments further solidify Franco-Nevada’s position as an attractive investment option within the basic materials industry. Investors can rely on the company’s robust performance and consistent dividend payouts as they strive for long-term financial growth.
As always, potential investors should conduct thorough research into any investment opportunity before making decisions based on information provided by third parties or public filings such as those submitted to the SEC. Market conditions can change rapidly and carrying out due diligence is crucial for informed decision-making when it comes to investments.
Overall, LifePro Asset Management’s increased stake in Franco-Nevada and the company’s dividend declaration highlight the confidence reputable organizations place in Franco-Nevada’s prospects, making it an intriguing option for investors seeking stable returns within the basic materials sector.
Updated on: 29/11/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Industrial Alliance Securities
Hedge Funds and Institutional Investors Flock to Franco-Nevada, Elevating Confidence in Company Growth
Franco-Nevada Reports Increased Holdings by Hedge Funds and Institutional Investors
September 18, 2023
In recent months, several hedge funds have made adjustments to their holdings of Franco-Nevada (NYSE:FNV), a leading company in the basic materials industry. City State Bank notably increased its position in the company by an astonishing 136.0% during the second quarter. As a result, City State Bank now owns 177 shares of Franco-Nevada’s stock, equating to a value of $25,000 after acquiring an additional 102 shares in the last quarter.
Clearview Wealth Advisors LLC also acquired a stake in Franco-Nevada earlier this year with approximately $27,000 worth of shares during the first quarter. Similarly, State of Wyoming decided to invest in Franco-Nevada during the fourth quarter of last year with a new position valued at around $38,000.
Other institutional investors like Ronald Blue Trust Inc. and Ridgewood Investments LLC also demonstrated confidence in Franco-Nevada. Ronald Blue Trust increased its stake by a staggering 493.8% during the first quarter and now owns 285 shares worth $39,000. Ridgewood Investments purchased a new stake worth approximately $47,000 during the same period.
Interestingly, data shows that institutional investors and hedge funds presently own 66.70% of Franco-Nevada’s stock. This statistic emphasizes their belief in the company’s potential growth and stability within the market.
As one would expect from such attention garnered from hedge funds and institutional investors, Franco-Nevada has been under close scrutiny by analysts who have released various research reports regarding its prospects for growth.
CSFB recently reduced their price objective on shares of Franco-Nevada from $157.00 to $150.00 while maintaining a “neutral” rating for the company in their research note published on Thursday, August 17th.
On the same day, StockNews.com initiated coverage on Franco-Nevada and assigned it a “hold” rating. However, Stifel Nicolaus upgraded Franco-Nevada from a “hold” to a “buy” rating just a day later on Friday, August 18th.
TD Securities also showed faith in Franco-Nevada, despite decreasing their price objective from $190.00 to $180.00. They maintained their “buy” rating for the company in their research note released on Thursday, August 10th.
Unfortunately, Barclays decreased their price objective on shares of Franco-Nevada from $127.00 to $126.00 in their research note published on Friday, July 7th.
In summary, the majority of analysts have given valuable insights into Franco-Nevada’s potential for growth. One analyst has even rated the stock as a sell while two others have given it a hold rating and four analysts have bestowed upon it a buy rating. According to data from Bloomberg.com, the consensus recommendation for Franco-Nevada’s stock stands at “Hold” with an average target price of $178.00.
On Monday, September 18th, shares of Franco-Nevada traded at $143.92 per share which resulted in a trading volume of 37,512 shares; although this is lower than its average trading volume of 524,237 shares.
Franco-Nevada currently holds a market capitalization of $27.64 billion and has exhibited a price-to-earnings ratio of 41.70 along with a P/E/G ratio of 10.36. Moreover, its beta stands at 0.72.
The company’s 50-day moving average closed at $142.08 while its 200-day moving average settled at $145.19 which indicates slight fluctuations in prices over time.
Finally, we can look back at Franco-Nevada’s latest quarterly earnings results. On Tuesday, August 8th, the company reported earnings per share (EPS) of $0.95 for the quarter, surpassing the consensus estimate of $0.83 by an impressive $0.12. Additionally, Franco-Nevada’s quarterly revenue recorded $329.90 million, exceeding analysts’ expectations of $324.06 million.
When considering the net margin of 53.88% and a return on equity of 10.20%, these results showcase Franco-Nevada’s solid financial performance.
However, it is important to note that compared to the same period last year, the firm experienced a decline in revenue of 6.4%. In the prior year’s corresponding period, Franco-Nevada had achieved earnings per share of $1.02.
Based on forecasts and analysis from equities analysts, it is anticipated that Franco-Nevada will post earnings per share of 3.39 for the current fiscal year.
In conclusion, Franco-Nevada has attracted increased attention from hedge funds and institutional investors due to its robust potential for growth within the basic materials industry. Analysts have closely followed these developments while offering mixed opinions on its prospects. The stock has experienced slight fluctuations in recent trading activity but remains stable overall with