Envestnet Asset Management Inc. Has $9.20 Million Stock Holdings in Franco-Nevada Corporation (NYSE:FNV)

Envestnet Asset Management Inc. boosted its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 36.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,388 shares of the basic materials company’s stock after acquiring an additional 15,483 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Franco-Nevada were worth $9,200,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. boosted its position in Franco-Nevada by 1,583.3% during the 1st quarter. Bessemer Group Inc. now owns 13,130 shares of the basic materials company’s stock worth $2,067,000 after acquiring an additional 12,350 shares during the last quarter. St. James Investment Company LLC grew its position in Franco-Nevada by 29.3% in the first quarter. St. James Investment Company LLC now owns 219,988 shares of the basic materials company’s stock valued at $34,661,000 after acquiring an additional 49,907 shares during the last quarter. D.A. Davidson & CO. bought a new position in Franco-Nevada in the first quarter valued at about $265,000. Merit Financial Group LLC acquired a new stake in shares of Franco-Nevada during the first quarter valued at about $333,000. Finally, Autumn Glory Partners LLC acquired a new stake in shares of Franco-Nevada during the first quarter valued at about $315,000. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Trading Up 1.0%

Franco-Nevada stock opened at $156.00 on Tuesday. The business’s fifty day simple moving average is $164.67 and its two-hundred day simple moving average is $153.63. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $179.99. The company has a market capitalization of $30.05 billion, a price-to-earnings ratio of 48.75, a price-to-earnings-growth ratio of 2.08 and a beta of 0.41.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. The company had revenue of $368.40 million during the quarter, compared to analyst estimates of $328.79 million. Franco-Nevada had a return on equity of 11.40% and a net margin of 50.39%. Franco-Nevada’s revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 earnings per share. On average, equities research analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were given a $0.38 dividend. The ex-dividend date was Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.97%. Franco-Nevada’s payout ratio is 47.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FNV shares. CIBC restated an “outperform” rating on shares of Franco-Nevada in a report on Tuesday, July 15th. National Bankshares reaffirmed a “sector perform” rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. UBS Group lifted their target price on Franco-Nevada from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, July 3rd. Scotiabank lifted their target price on Franco-Nevada from $165.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, May 12th. Finally, Raymond James Financial set a $186.00 target price on Franco-Nevada and gave the company an “outperform” rating in a research report on Wednesday, May 28th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.13.

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.