Franco-Nevada Corporation $FNV Stock Position Raised by Blue Trust Inc.

Blue Trust Inc. raised its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 10.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 973 shares of the basic materials company’s stock after purchasing an additional 96 shares during the period. Blue Trust Inc.’s holdings in Franco-Nevada were worth $160,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. raised its stake in shares of Franco-Nevada by 1,583.3% during the 1st quarter. Bessemer Group Inc. now owns 13,130 shares of the basic materials company’s stock worth $2,067,000 after purchasing an additional 12,350 shares in the last quarter. St. James Investment Company LLC raised its stake in shares of Franco-Nevada by 29.3% during the 1st quarter. St. James Investment Company LLC now owns 219,988 shares of the basic materials company’s stock worth $34,661,000 after purchasing an additional 49,907 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of 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. FORA Capital LLC raised its stake 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 worth $842,000 after purchasing an additional 3,362 shares in the last quarter. Finally, D.A. Davidson & CO. purchased a new stake in shares of Franco-Nevada during the 1st quarter worth about $265,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FNV. Raymond James Financial raised their price objective on Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. TD Securities raised their price objective on Franco-Nevada from $182.00 to $184.00 and gave the company a “hold” rating in a research note on Tuesday, August 12th. CIBC reissued an “outperform” rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Scotiabank raised their price objective on Franco-Nevada from $182.00 to $184.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 12th. Finally, Canaccord Genuity Group downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $196.86.

Franco-Nevada Stock Up 0.2%

FNV opened at $209.22 on Thursday. The firm has a market capitalization of $40.32 billion, a P/E ratio of 51.41, a price-to-earnings-growth ratio of 2.72 and a beta of 0.42. The stock’s 50 day moving average price is $197.69 and its two-hundred day moving average price is $175.59. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $225.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. The firm had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The company’s revenue was up 42.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. As a group, analysts anticipate that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 11th. Franco-Nevada’s dividend payout ratio (DPR) is presently 37.35%.

Franco-Nevada Company 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.