Harvest Portfolios Group Inc. Makes New $702,000 Investment in Franco-Nevada Corporation $FNV

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

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in Franco-Nevada by 36.1% during the first quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company’s stock valued at $9,200,000 after purchasing an additional 15,483 shares in the last quarter. FORA Capital LLC increased its position in shares of Franco-Nevada by 169.8% during the 1st quarter. FORA Capital LLC now owns 5,342 shares of the basic materials company’s stock valued at $842,000 after purchasing an additional 3,362 shares during the last quarter. D.A. Davidson & CO. purchased a new position in shares of Franco-Nevada during the 1st quarter valued at about $265,000. Jump Financial LLC bought a new stake in Franco-Nevada in the 1st quarter worth approximately $274,000. Finally, Principal Financial Group Inc. boosted its stake in Franco-Nevada by 34.4% in the first quarter. Principal Financial Group Inc. now owns 10,710 shares of the basic materials company’s stock worth $1,684,000 after buying an additional 2,739 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

NYSE:FNV opened at $191.96 on Friday. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $225.63. The firm has a market cap of $37.01 billion, a PE ratio of 47.16, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40. The business has a 50 day moving average price of $201.91 and a 200-day moving average price of $179.62.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted 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. The company had revenue of $487.70 million during the quarter, compared to analyst estimates of $448.51 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The firm’s revenue was up 76.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. Research analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, December 4th. Franco-Nevada’s dividend payout ratio is 31.87%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FNV. Zacks Research raised shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Weiss Ratings raised shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. TD Securities decreased their target price on shares of Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a research report on Wednesday. CIBC reissued an “outperform” rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Finally, Raymond James Financial upped their price target on shares of Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and an average target price of $223.43.

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.