Parallel Advisors LLC Has $414,000 Position in Franco-Nevada Corporation $FNV

Parallel Advisors LLC reduced its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 6.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,523 shares of the basic materials company’s stock after selling 175 shares during the quarter. Parallel Advisors LLC’s holdings in Franco-Nevada were worth $414,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Franco-Nevada in the 2nd quarter worth approximately $477,000. Voya Investment Management LLC acquired a new stake in Franco-Nevada in the 1st quarter worth approximately $249,000. Acadian Asset Management LLC lifted its holdings in Franco-Nevada by 800.0% in the 1st quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock worth $424,000 after purchasing an additional 2,400 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Franco-Nevada by 118.3% in the 1st quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock worth $1,460,000 after purchasing an additional 5,032 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in Franco-Nevada in the 1st quarter worth approximately $94,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

Shares of NYSE:FNV opened at $213.77 on Friday. The business’s fifty day moving average price is $178.36 and its two-hundred day moving average price is $167.89. The stock has a market capitalization of $41.20 billion, a price-to-earnings ratio of 52.52, a price-to-earnings-growth ratio of 2.81 and a beta of 0.41. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $214.82.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.10 by $0.14. The company had revenue of $369.40 million for the quarter, compared to analysts’ expectations of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The business’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. Research analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, September 11th. Franco-Nevada’s dividend payout ratio is presently 37.35%.

Analysts Set New Price Targets

FNV has been the subject of several analyst reports. National Bankshares restated a “sector perform” rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Royal Bank Of Canada upped their price target on Franco-Nevada from $160.00 to $190.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 4th. HC Wainwright upped their price target on Franco-Nevada from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Scotiabank upped their price target on Franco-Nevada from $182.00 to $184.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 12th. Finally, TD Securities upped their price target on Franco-Nevada from $182.00 to $184.00 and gave the stock a “hold” rating in a report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus target price of $183.88.

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.