Harvest Portfolios Group Inc. Acquires Shares of 4,275 Franco-Nevada Corporation $FNV

Harvest Portfolios Group Inc. bought a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,275 shares of the basic materials company’s stock, valued at approximately $702,000.

Several other hedge funds have also recently made changes to their positions in FNV. Massachusetts Financial Services Co. MA lifted its position in shares of Franco-Nevada by 1.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company’s stock valued at $1,923,400,000 after buying an additional 207,232 shares during the last quarter. Vanguard Group Inc. raised its stake in Franco-Nevada by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,845,339 shares of the basic materials company’s stock valued at $1,233,891,000 after acquiring an additional 45,924 shares during the period. TD Asset Management Inc raised its stake in Franco-Nevada by 4.4% in the 2nd quarter. TD Asset Management Inc now owns 2,011,787 shares of the basic materials company’s stock valued at $329,626,000 after acquiring an additional 85,117 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Franco-Nevada by 1.7% during the first quarter. The Manufacturers Life Insurance Company now owns 1,980,772 shares of the basic materials company’s stock valued at $313,071,000 after purchasing an additional 33,044 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in Franco-Nevada by 16.0% during the first quarter. Mackenzie Financial Corp now owns 1,756,344 shares of the basic materials company’s stock worth $276,224,000 after purchasing an additional 242,196 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FNV shares. UBS Group upped their price target on shares of Franco-Nevada from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, Raymond James Financial increased their price objective on Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $223.43.

Franco-Nevada Price Performance

Shares of NYSE:FNV opened at $191.96 on Friday. The firm has a fifty day moving average price of $201.91 and a two-hundred day moving average price of $179.62. The company has a market cap of $37.01 billion, a price-to-earnings ratio of 47.16, a PEG ratio of 1.70 and a beta of 0.40. Franco-Nevada Corporation has a one year low of $112.70 and a one year high of $225.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.06. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The firm had revenue of $487.70 million for the quarter, compared to analysts’ expectations of $448.51 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The business’s quarterly revenue was up 76.9% on a year-over-year basis. Equities research analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, December 4th. Franco-Nevada’s dividend payout ratio is currently 31.87%.

About Franco-Nevada

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.