Proficio Capital Partners LLC Invests $856,000 in Franco-Nevada Corporation $FNV

Proficio Capital Partners LLC acquired a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the 2nd quarter, HoldingsChannel reports. The fund acquired 4,105 shares of the basic materials company’s stock, valued at approximately $856,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Transamerica Financial Advisors LLC purchased a new position in shares of Franco-Nevada during the 4th quarter valued at $25,000. Smartleaf Asset Management LLC raised 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 valued at $32,000 after purchasing an additional 168 shares in the last quarter. Navalign LLC bought a new position in Franco-Nevada during the fourth quarter valued at approximately $34,000. Global Retirement Partners LLC bought a new stake in Franco-Nevada in the second quarter worth $35,000. Finally, Dunhill Financial LLC purchased a new stake in Franco-Nevada during the 2nd quarter valued at about $36,000. 77.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FNV has been the topic of several recent analyst reports. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target on the stock in a report on Wednesday, May 20th. Zacks Research upgraded shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings cut shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating and reduced their price objective for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada lowered their target price on Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and an average target price of $273.40.

Franco-Nevada Price Performance

FNV stock opened at $267.28 on Thursday. Franco-Nevada Corporation has a 1-year low of $181.50 and a 1-year high of $285.67. The company has a market capitalization of $51.55 billion, a P/E ratio of 34.94, a PEG ratio of 2.51 and a beta of 0.35. The business has a 50-day moving average price of $222.16 and a 200 day moving average price of $235.82.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The business had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The business’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. On average, analysts anticipate that Franco-Nevada Corporation will post 7.54 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, September 10th. Franco-Nevada’s payout ratio is 23.01%.

Franco-Nevada Company Profile

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.