Franco-Nevada Corporation $FNV Shares Sold by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC lowered its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 5.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,376 shares of the basic materials company’s stock after selling 900 shares during the period. Franco-Nevada comprises approximately 2.0% of Elevate Capital Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Elevate Capital Advisors LLC’s holdings in Franco-Nevada were worth $2,520,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bessemer Group Inc. raised its position in shares of Franco-Nevada by 1,583.3% in the first quarter. Bessemer Group Inc. now owns 13,130 shares of the basic materials company’s stock worth $2,067,000 after acquiring an additional 12,350 shares during the period. St. James Investment Company LLC raised its position in shares of Franco-Nevada by 29.3% in the first quarter. St. James Investment Company LLC now owns 219,988 shares of the basic materials company’s stock worth $34,661,000 after acquiring an additional 49,907 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Franco-Nevada by 36.1% in the first quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company’s stock worth $9,200,000 after acquiring an additional 15,483 shares during the period. FORA Capital LLC raised its position in shares of Franco-Nevada by 169.8% in the first quarter. FORA Capital LLC now owns 5,342 shares of the basic materials company’s stock worth $842,000 after acquiring an additional 3,362 shares during the period. Finally, D.A. Davidson & CO. acquired a new position in shares of Franco-Nevada in the first quarter worth about $265,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FNV. HC Wainwright boosted their target price on shares of Franco-Nevada from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. TD Securities boosted their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a “hold” rating in a research note on Tuesday, August 12th. Scotiabank boosted their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of Franco-Nevada in a research note on Saturday, September 27th. Finally, National Bankshares reissued a “sector perform” rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $194.57.

Franco-Nevada Trading Up 1.4%

Shares of NYSE FNV opened at $220.55 on Friday. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $225.63. The stock has a market cap of $42.50 billion, a PE ratio of 54.19, a P/E/G ratio of 2.85 and a beta of 0.42. The company has a 50-day moving average of $190.09 and a 200 day moving average of $172.51.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.14. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The company had revenue of $369.40 million during the quarter, compared to analysts’ expectations of $382.70 million. During the same quarter in the prior year, the company earned $0.75 EPS. Franco-Nevada’s revenue was up 42.0% compared to the same quarter last year. On average, sell-side analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 11th. Franco-Nevada’s dividend payout ratio is currently 37.35%.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.