Fiera Capital Corp Increases Position in Franco-Nevada Corporation $FNV

Fiera Capital Corp raised its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 0.2% in the second quarter, Holdings Channel reports. The fund owned 377,608 shares of the basic materials company’s stock after buying an additional 854 shares during the period. Fiera Capital Corp’s holdings in Franco-Nevada were worth $61,956,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FNV. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Franco-Nevada by 198.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company’s stock valued at $268,280,000 after purchasing an additional 1,133,373 shares during the last quarter. Scharf Investments LLC acquired a new position in Franco-Nevada during the second quarter worth $78,509,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Franco-Nevada by 101.1% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 672,148 shares of the basic materials company’s stock valued at $105,731,000 after buying an additional 337,926 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Franco-Nevada by 53.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 883,293 shares of the basic materials company’s stock worth $138,945,000 after acquiring an additional 309,161 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Franco-Nevada by 280.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 365,812 shares of the basic materials company’s stock worth $57,526,000 after acquiring an additional 269,730 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

NYSE FNV opened at $200.08 on Thursday. The stock has a market capitalization of $38.57 billion, a P/E ratio of 49.16, a PEG ratio of 1.70 and a beta of 0.40. The firm’s 50-day moving average is $202.31 and its two-hundred day moving average is $180.21. 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 announced its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The business had revenue of $487.70 million during the quarter, compared to analysts’ expectations of $448.51 million. During the same period last year, the business earned $0.80 earnings per share. The business’s revenue for the quarter was up 76.9% on a year-over-year basis. As a group, analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, December 4th. Franco-Nevada’s dividend payout ratio is 31.87%.

Analyst Ratings Changes

FNV has been the topic of several recent research reports. Zacks Research raised shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. HC Wainwright lifted their target price on shares of Franco-Nevada from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Weiss Ratings upgraded shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Raymond James Financial increased their price target on shares of Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Finally, Scotiabank raised their price target on shares of Franco-Nevada from $184.00 to $225.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $223.43.

Franco-Nevada 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.