Franco-Nevada Corporation $FNV is Atlas Wealth Partners LLC’s 5th Largest Position

Atlas Wealth Partners LLC lessened its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,678 shares of the basic materials company’s stock after selling 275 shares during the period. Franco-Nevada makes up about 4.7% of Atlas Wealth Partners LLC’s portfolio, making the stock its 5th biggest holding. Atlas Wealth Partners LLC’s holdings in Franco-Nevada were worth $4,045,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings 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 valued at $9,200,000 after purchasing an additional 15,483 shares during the last quarter. FORA Capital LLC lifted its holdings 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 Franco-Nevada in the 1st quarter worth $265,000. Jump Financial LLC purchased a new position in Franco-Nevada in the 1st quarter worth $274,000. Finally, Principal Financial Group Inc. raised its stake in Franco-Nevada by 34.4% in the 1st quarter. Principal Financial Group Inc. now owns 10,710 shares of the basic materials company’s stock worth $1,684,000 after acquiring an additional 2,739 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of FNV opened at $185.08 on Wednesday. The business’s 50-day moving average is $201.73 and its two-hundred day moving average is $179.37. The company has a market capitalization of $35.68 billion, a P/E ratio of 45.47, a P/E/G 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 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.06. The company had revenue of $487.70 million for the quarter, compared to the consensus estimate of $448.51 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The firm’s revenue for the quarter was up 76.9% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. Analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current 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 given a dividend of $0.38 per share. The ex-dividend date is Thursday, December 4th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is 31.87%.

Analyst Upgrades and Downgrades

FNV has been the subject of a number of research analyst reports. CIBC restated an “outperform” rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Weiss Ratings upgraded Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. HC Wainwright raised their target price on Franco-Nevada from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Zacks Research upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.57.

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.