6,521 Shares in Franco-Nevada Corporation $FNV Bought by Tacita Capital Inc

Tacita Capital 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 SEC. The firm purchased 6,521 shares of the basic materials company’s stock, valued at approximately $1,358,000. Franco-Nevada makes up 0.7% of Tacita Capital Inc’s investment portfolio, making the stock its 29th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of FNV. Transamerica Financial Advisors LLC acquired a new stake in shares of Franco-Nevada during the fourth quarter valued at approximately $25,000. Private Trust Co. NA acquired a new position in Franco-Nevada in the 4th quarter worth approximately $29,000. Smartleaf Asset Management LLC boosted its stake in Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares during the period. Navalign LLC purchased a new position in Franco-Nevada during the 4th quarter worth approximately $34,000. Finally, Global Retirement Partners LLC purchased a new position in Franco-Nevada during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $251.54 on Thursday. The firm has a market cap of $48.51 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 2.13 and a beta of 0.35. The business’s 50-day simple moving average is $217.44 and its 200-day simple moving average is $234.66. Franco-Nevada Corporation has a 52 week low of $173.84 and a 52 week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). The company had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The firm’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.24 earnings per share. As a group, equities research analysts forecast that Franco-Nevada Corporation will post 7.6 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, September 10th. Franco-Nevada’s dividend payout ratio is currently 23.01%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FNV. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada decreased their price objective on Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Weiss Ratings cut Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Wall Street Zen cut Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, UBS Group dropped their target price on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $273.40.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.