Franco-Nevada Corporation $FNV Holdings Trimmed by Profund Advisors LLC

Profund Advisors LLC lessened its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,159 shares of the basic materials company’s stock after selling 436 shares during the period. Profund Advisors LLC’s holdings in Franco-Nevada were worth $2,649,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its position in Franco-Nevada by 198.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company’s stock worth $268,280,000 after purchasing an additional 1,133,373 shares in the last quarter. Scharf Investments LLC bought a new stake in shares of Franco-Nevada in the 2nd quarter valued at approximately $78,509,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Franco-Nevada by 101.1% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 672,148 shares of the basic materials company’s stock worth $105,731,000 after buying an additional 337,926 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Franco-Nevada by 53.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 883,293 shares of the basic materials company’s stock worth $138,945,000 after buying an additional 309,161 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Franco-Nevada by 280.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 365,812 shares of the basic materials company’s stock worth $57,526,000 after purchasing an additional 269,730 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on FNV. Scotiabank raised their price target on Franco-Nevada from $184.00 to $225.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings raised shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. UBS Group raised their price objective on shares of Franco-Nevada from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.43.

Franco-Nevada Price Performance

FNV opened at $191.96 on Monday. The firm has a 50 day simple moving average of $201.91 and a 200 day simple moving average of $179.74. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $225.63. The company has a market cap of $37.01 billion, a price-to-earnings ratio of 47.16, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, November 3rd. The basic materials company reported $1.43 EPS for the quarter, beating the consensus estimate 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 58.82% and a return on equity of 12.56%. The business’s revenue for the quarter was up 76.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS. As a group, analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The business 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. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $1.52 annualized dividend and a yield of 0.8%. Franco-Nevada’s dividend payout ratio is presently 31.87%.

Franco-Nevada 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.