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

Vise Technologies Inc. acquired a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,505 shares of the basic materials company’s stock, valued at approximately $731,000.

Several other institutional investors also recently modified their holdings of FNV. Transamerica Financial Advisors LLC bought a new position in Franco-Nevada during the fourth quarter worth about $25,000. Smartleaf Asset Management LLC increased 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 during the last quarter. Navalign LLC bought a new stake in Franco-Nevada in the fourth quarter valued at approximately $34,000. Global Retirement Partners LLC bought a new stake in Franco-Nevada in the second quarter valued at approximately $35,000. Finally, Dunhill Financial LLC acquired a new stake in shares of Franco-Nevada in the second quarter valued at approximately $36,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Up 0.0%

Shares of NYSE:FNV opened at $265.78 on Monday. Franco-Nevada Corporation has a 12-month low of $180.32 and a 12-month high of $285.67. The stock has a market cap of $51.26 billion, a PE ratio of 34.74, a P/E/G ratio of 2.42 and a beta of 0.35. The business has a 50 day moving average of $219.57 and a 200-day moving average of $235.06.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The firm 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%.Franco-Nevada’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS. Equities research analysts expect that Franco-Nevada Corporation will post 7.62 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. Shareholders of record on Thursday, September 10th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a 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 brokerages have recently commented on FNV. Scotiabank reduced their target price on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. TD raised Franco-Nevada from a “hold” rating to a “buy” rating and cut their price target for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective for the company in a research report on Wednesday, May 20th. Weiss Ratings downgraded shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, Zacks Research upgraded shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $273.40.

About Franco-Nevada

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.