Vise Technologies Inc. Acquires Shares of 3,505 Franco-Nevada Corporation $FNV

Vise Technologies Inc. bought a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,505 shares of the basic materials company’s stock, valued at approximately $731,000.

Other hedge funds also recently made changes to their positions in the company. Transamerica Financial Advisors LLC acquired a new stake in shares of Franco-Nevada in the fourth quarter valued at approximately $25,000. Smartleaf Asset Management LLC grew its position in Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after buying an additional 168 shares in the last quarter. Navalign LLC acquired a new stake in Franco-Nevada during the fourth quarter worth approximately $34,000. Global Retirement Partners LLC bought a new position in Franco-Nevada during the 2nd quarter worth $35,000. Finally, Dunhill Financial LLC acquired a new position in Franco-Nevada in the 2nd quarter valued at $36,000. 77.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FNV shares. HC Wainwright reiterated a “buy” rating and set a $305.00 target price on shares of Franco-Nevada in a research report on Wednesday, May 13th. Jefferies Financial Group decreased their price target on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Scotiabank cut their price objective on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $273.40.

Franco-Nevada Price Performance

Shares of FNV opened at $265.78 on Monday. Franco-Nevada Corporation has a one year low of $180.32 and a one year high of $285.67. The company has a market cap of $51.26 billion, a P/E ratio of 34.74, a P/E/G ratio of 2.42 and a beta of 0.35. The firm has a 50 day simple moving average of $219.57 and a two-hundred day simple moving average of $235.06.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released 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 business had revenue of $580.90 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.24 earnings per share. On average, analysts expect that Franco-Nevada Corporation will post 7.62 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

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

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.