Vise Technologies Inc. Buys New Shares in Franco-Nevada Corporation $FNV

Vise Technologies Inc. purchased a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,547 shares of the basic materials company’s stock, valued at approximately $417,000.

Several other institutional investors have also recently made changes to their positions in FNV. Vanguard Group Inc. grew its stake in Franco-Nevada by 0.6% in the first 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 lifted its holdings in shares of 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 worth $329,626,000 after purchasing an additional 85,117 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Franco-Nevada by 1.7% in the 1st 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 period. Mackenzie Financial Corp grew its position in Franco-Nevada by 16.0% in the 1st quarter. Mackenzie Financial Corp now owns 1,756,344 shares of the basic materials company’s stock valued at $276,224,000 after purchasing an additional 242,196 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Franco-Nevada by 198.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company’s stock valued at $268,280,000 after purchasing an additional 1,133,373 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Franco-Nevada in a research report on Thursday. Wall Street Zen downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Sunday. Bank of America increased their price objective on Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. TD Securities dropped their target price on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Finally, UBS Group upped their price target on Franco-Nevada from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and an average price target of $223.43.

Franco-Nevada Stock Performance

Shares of FNV opened at $197.14 on Friday. Franco-Nevada Corporation has a fifty-two week low of $113.54 and a fifty-two week high of $225.63. The business has a 50-day moving average of $202.51 and a 200 day moving average of $180.59. The firm has a market cap of $38.00 billion, a P/E ratio of 48.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40.

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

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, December 4th. Franco-Nevada’s 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.