JPMorgan Chase & Co. Has $169.46 Million Holdings in Franco-Nevada Corporation $FNV

JPMorgan Chase & Co. grew its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,033,783 shares of the basic materials company’s stock after buying an additional 24,014 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.54% of Franco-Nevada worth $169,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in FNV. Vanguard Group Inc. lifted its stake in Franco-Nevada by 3.1% in the second quarter. Vanguard Group Inc. now owns 8,086,420 shares of the basic materials company’s stock valued at $1,327,612,000 after acquiring an additional 241,081 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Franco-Nevada by 4.4% during 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 purchasing an additional 85,117 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of 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 last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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. Finally, Geode Capital Management LLC boosted its holdings in Franco-Nevada by 20.2% in the second quarter. Geode Capital Management LLC now owns 1,500,290 shares of the basic materials company’s stock worth $247,051,000 after purchasing an additional 252,540 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Up 0.5%

Shares of NYSE:FNV opened at $200.92 on Wednesday. The company has a market cap of $38.73 billion, a price-to-earnings ratio of 49.37, a PEG ratio of 1.70 and a beta of 0.40. The business has a 50 day moving average price of $201.88 and a 200 day moving average price of $182.02. Franco-Nevada Corporation has a twelve month low of $114.81 and a twelve month high of $225.63.

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

Franco-Nevada Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FNV shares. Raymond James Financial raised their target price on Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Scotiabank raised their price objective on Franco-Nevada from $184.00 to $225.00 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. UBS Group boosted their target price on Franco-Nevada from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Bank of America increased their price target on Franco-Nevada from $211.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Franco-Nevada in a research report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $223.43.

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.