Ensign Peak Advisors Inc Reduces Stock Position in Franco-Nevada Corporation $FNV

Ensign Peak Advisors Inc cut its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 3.7% during the second quarter, Holdings Channel reports. The firm owned 12,923 shares of the basic materials company’s stock after selling 500 shares during the period. Ensign Peak Advisors Inc’s holdings in Franco-Nevada were worth $2,117,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Franco-Nevada by 198.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company’s stock worth $268,280,000 after buying an additional 1,133,373 shares during the period. Scharf Investments LLC purchased a new stake in shares of Franco-Nevada in the 2nd quarter valued at $78,509,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Franco-Nevada by 101.1% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 672,148 shares of the basic materials company’s stock worth $105,731,000 after acquiring an additional 337,926 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Franco-Nevada by 53.8% in the first 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 period. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Franco-Nevada by 280.7% during the first 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 purchasing an additional 269,730 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Up 3.3%

Shares of Franco-Nevada stock opened at $207.39 on Thursday. The firm has a market cap of $39.98 billion, a PE ratio of 50.96, a P/E/G ratio of 1.70 and a beta of 0.40. Franco-Nevada Corporation has a twelve month low of $114.81 and a twelve month high of $225.63. The business has a 50-day moving average price of $202.01 and a 200 day moving average price of $182.20.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.37 by $0.06. The company had revenue of $487.70 million for the quarter, compared to analyst estimates of $448.51 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.Franco-Nevada’s quarterly revenue was up 76.9% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. On average, sell-side analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, December 4th. Franco-Nevada’s payout ratio is presently 31.87%.

Analyst Ratings Changes

Several equities research analysts have commented on FNV shares. Raymond James Financial upped their price target on shares of Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Scotiabank upped their target price on Franco-Nevada from $184.00 to $225.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. UBS Group raised their target price on Franco-Nevada from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Franco-Nevada in a report on Tuesday. Finally, Bank of America upped their price objective on Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $223.43.

About Franco-Nevada

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.