Franco-Nevada Corporation $FNV Shares Acquired by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. raised its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 61.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,308,824 shares of the basic materials company’s stock after buying an additional 495,794 shares during the quarter. Franco-Nevada comprises about 2.5% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 9th largest position. Beutel Goodman & Co Ltd.’s holdings in Franco-Nevada were worth $312,329,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. AlphaCore Capital LLC bought a new stake in Franco-Nevada in the 3rd quarter valued at about $229,000. Fulcrum Asset Management LLP purchased a new stake in Franco-Nevada during the third quarter valued at about $175,000. Euro Pacific Asset Management LLC boosted its position in Franco-Nevada by 1.1% during the third quarter. Euro Pacific Asset Management LLC now owns 251,982 shares of the basic materials company’s stock worth $59,999,000 after purchasing an additional 2,824 shares during the period. Atlas Wealth Partners LLC boosted its position in Franco-Nevada by 0.3% during the third quarter. Atlas Wealth Partners LLC now owns 23,688 shares of the basic materials company’s stock worth $5,640,000 after purchasing an additional 75 shares during the period. Finally, StoneX Group Inc. purchased a new position in shares of Franco-Nevada in the third quarter worth about $267,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Zacks Research raised shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings raised shares of Franco-Nevada from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Royal Bank Of Canada increased their target price on Franco-Nevada from $285.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Finally, Scotiabank cut their price target on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.30.

Franco-Nevada Price Performance

FNV opened at $263.85 on Tuesday. The company has a fifty day moving average price of $248.77 and a 200-day moving average price of $240.12. The firm has a market capitalization of $50.90 billion, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 2.81 and a beta of 0.34. Franco-Nevada Corporation has a one year low of $188.47 and a one year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). The company had revenue of $580.90 million during 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%. The firm’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same quarter last year, the company posted $1.24 earnings per share. On average, analysts expect that Franco-Nevada Corporation will post 7.40 earnings per share for the current year.

About Franco-Nevada

Franco-Nevada is a Toronto-based company that provides financing to mining and energy businesses in exchange for royalties, streams and other interests in production. Rather than operating mines itself, it gives partners capital and receives a share of revenue or future output from their projects.

The company’s portfolio is focused on gold and other precious metals, and also includes interests in other minerals and energy assets, including oil and gas. Its projects and counterparties span multiple regions, including North and South America, Africa, Australia and Europe.

Franco-Nevada traces its origins to 1983.