Profund Advisors LLC Cuts Position in Franco-Nevada Corporation $FNV

Profund Advisors LLC trimmed its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 16.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,802 shares of the basic materials company’s stock after selling 3,971 shares during the period. Profund Advisors LLC’s holdings in Franco-Nevada were worth $4,105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Franco-Nevada by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 8,330,234 shares of the basic materials company’s stock worth $1,726,741,000 after purchasing an additional 113,916 shares in the last quarter. Bank of Montreal Can grew its holdings in Franco-Nevada by 8.9% in the 3rd quarter. Bank of Montreal Can now owns 5,560,980 shares of the basic materials company’s stock valued at $1,237,510,000 after buying an additional 454,175 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Franco-Nevada by 26.5% in the 4th quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock valued at $1,062,037,000 after purchasing an additional 1,074,257 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Franco-Nevada by 76.0% in the 3rd quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company’s stock valued at $525,925,000 after purchasing an additional 1,020,509 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of Franco-Nevada by 0.9% in the 3rd quarter. TD Asset Management Inc now owns 2,030,684 shares of the basic materials company’s stock valued at $452,095,000 after purchasing an additional 18,897 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on FNV shares. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 13th. UBS Group reaffirmed a “buy” rating and issued a $310.00 target price on shares of Franco-Nevada in a research report on Friday, January 30th. Weiss Ratings upgraded Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, March 20th. Scotiabank boosted their price target on Franco-Nevada from $286.00 to $290.00 and gave the company a “sector perform” rating in a report on Thursday, May 14th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $257.75.

Franco-Nevada Stock Down 1.3%

Shares of Franco-Nevada stock opened at $222.56 on Wednesday. The firm has a market cap of $42.92 billion, a price-to-earnings ratio of 31.35, a price-to-earnings-growth ratio of 1.95 and a beta of 0.34. The business has a fifty day simple moving average of $244.61 and a 200-day simple moving average of $232.27. Franco-Nevada Corporation has a fifty-two week low of $152.89 and a fifty-two week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.29. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business had revenue of $650.70 million during the quarter, compared to analyst estimates of $634.43 million. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The company’s revenue was up 76.6% on a year-over-year basis. Analysts anticipate that Franco-Nevada Corporation will post 8.84 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 11th. Franco-Nevada’s dividend payout ratio is currently 24.79%.

Franco-Nevada 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.