Profund Advisors LLC Has $2.65 Million Stock Holdings in Franco-Nevada Corporation $FNV

Profund Advisors LLC decreased its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 2.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor 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 quarter.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. grew 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 valued at $1,684,000 after acquiring an additional 2,739 shares during the period. Bank of New York Mellon Corp grew its position in shares of Franco-Nevada by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 175,843 shares of the basic materials company’s stock valued at $27,706,000 after purchasing an additional 4,838 shares during the period. Envestnet Asset Management Inc. increased its stake in Franco-Nevada by 36.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company’s stock worth $9,200,000 after purchasing an additional 15,483 shares in the last quarter. Brown Advisory Inc. acquired a new stake in Franco-Nevada during the 1st quarter worth approximately $205,000. Finally, Allworth Financial LP lifted its stake in Franco-Nevada by 4.4% in the first quarter. Allworth Financial LP now owns 4,066 shares of the basic materials company’s stock valued at $697,000 after buying an additional 171 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. CIBC reissued an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Zacks Research upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. 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 research report on Wednesday, November 5th. Finally, HC Wainwright raised their price target on shares of Franco-Nevada from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Two equities research 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 company’s 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 Price Performance

Shares of FNV opened at $191.96 on Monday. The company’s 50-day moving average is $201.91 and its 200-day moving average is $179.74. The firm has a market capitalization of $37.01 billion, a PE ratio of 47.16, a PEG ratio of 1.70 and a beta of 0.40. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $225.63.

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 business had revenue of $487.70 million for the quarter, compared to analyst estimates of $448.51 million. During the same quarter in the prior year, the business earned $0.80 EPS. Franco-Nevada’s quarterly revenue was up 76.9% on a year-over-year basis. Analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share 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. Stockholders of record on Thursday, December 4th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) 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.