Aviso Financial Inc. Acquires 156,096 Shares of Franco-Nevada Corporation $FNV

Aviso Financial Inc. boosted its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 160.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 253,237 shares of the basic materials company’s stock after buying an additional 156,096 shares during the period. Franco-Nevada makes up about 1.9% of Aviso Financial Inc.’s investment portfolio, making the stock its 22nd largest position. Aviso Financial Inc. owned about 0.13% of Franco-Nevada worth $41,568,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Quadcap Wealth Management LLC increased its position in Franco-Nevada by 22.9% during the second quarter. Quadcap Wealth Management LLC now owns 5,979 shares of the basic materials company’s stock worth $980,000 after acquiring an additional 1,116 shares during the period. Adalta Capital Management LLC grew its position in Franco-Nevada by 1.8% in the 2nd quarter. Adalta Capital Management LLC now owns 12,816 shares of the basic materials company’s stock worth $2,101,000 after purchasing an additional 225 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in shares of Franco-Nevada by 2.6% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 1,043,546 shares of the basic materials company’s stock worth $171,058,000 after purchasing an additional 26,772 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of Franco-Nevada during the second quarter valued at about $80,621,000. Finally, American Century Companies Inc. raised its position in shares of Franco-Nevada by 10.0% during the second quarter. American Century Companies Inc. now owns 262,447 shares of the basic materials company’s stock valued at $43,024,000 after buying an additional 23,761 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

Shares of FNV stock opened at $200.05 on Tuesday. The stock’s fifty day simple moving average is $201.87 and its 200 day simple moving average is $181.80. Franco-Nevada Corporation has a one year low of $114.81 and a one year high of $225.63. The firm has a market cap of $38.56 billion, a price-to-earnings ratio of 49.15, a P/E/G ratio of 1.70 and a beta of 0.40.

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

Franco-Nevada Announces Dividend

The company 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 dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, December 4th. Franco-Nevada’s dividend payout ratio (DPR) is currently 31.87%.

Wall Street Analyst Weigh In

FNV has been the topic of a number of recent research reports. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Franco-Nevada in a report on Wednesday, November 19th. HC Wainwright boosted their price objective on Franco-Nevada from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Raymond James Financial raised their target price on Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Finally, TD Securities decreased their price target on shares of Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and an average price target 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.