Sciencast Management LP Sells 3,648 Shares of Franco-Nevada Corporation $FNV

Sciencast Management LP cut its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 61.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,261 shares of the basic materials company’s stock after selling 3,648 shares during the quarter. Sciencast Management LP’s holdings in Franco-Nevada were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FNV. Creative Financial Designs Inc. ADV boosted its holdings in Franco-Nevada by 5.1% during the second quarter. Creative Financial Designs Inc. ADV now owns 1,978 shares of the basic materials company’s stock valued at $412,000 after acquiring an additional 96 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Franco-Nevada by 1.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,360 shares of the basic materials company’s stock worth $2,993,000 after purchasing an additional 171 shares during the period. TD Waterhouse Canada Inc. increased its stake in shares of Franco-Nevada by 5.1% in the second quarter. TD Waterhouse Canada Inc. now owns 817,307 shares of the basic materials company’s stock worth $172,066,000 after purchasing an additional 39,935 shares during the period. Oak Harvest Investment Services acquired a new position in shares of Franco-Nevada during the 2nd quarter worth about $1,042,000. Finally, Annex Advisory Services LLC lifted its position in shares of Franco-Nevada by 70.5% during the 2nd quarter. Annex Advisory Services LLC now owns 160,605 shares of the basic materials company’s stock worth $33,477,000 after purchasing an additional 66,432 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $305.00 target price on shares of Franco-Nevada in a research note on Wednesday, May 13th. Scotiabank dropped their price target on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. TD raised 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, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $273.40.

Key Franco-Nevada News

Here are the key news stories impacting Franco-Nevada this week:

• Positive Sentiment: Second-quarter revenue increased 57.3% year over year to approximately $580.9 million, supported by higher precious-metals and oil prices. Gold’s continued rally could further benefit Franco-Nevada’s royalty and streaming portfolio. Franco-Nevada Q2 Earnings Miss Estimates, Revenues Soar 57% Y/Y
• Positive Sentiment: MarketBeat noted that rising gold prices, analyst price targets and technical indicators point to potential additional upside for FNV despite the quarterly miss. Franco-Nevada Earnings: Gold Is Rallying, But Does the Stock Even Care?
• Positive Sentiment: Franco-Nevada declared a quarterly dividend of $0.44 per share, payable September 24 to shareholders of record September 10. The dividend provides continued income support, although the indicated yield is approximately 0.7%.
• Neutral Sentiment: Zacks Research upgraded Franco-Nevada’s rating from “strong sell” to “hold,” indicating a less negative view but not an outright bullish recommendation. Zacks.com
• Negative Sentiment: Second-quarter adjusted earnings per share came in at $1.81, below the $1.95 consensus estimate, while revenue also missed expectations of approximately $616.7 million. Contracting margins added to investor concerns despite the sharp year-over-year growth. Franco-Nevada Q2 Earnings Miss Estimates, Revenues Soar 57% Y/Y

Franco-Nevada Stock Performance

NYSE:FNV opened at $231.82 on Friday. The firm’s 50-day moving average is $215.37 and its 200-day moving average is $235.32. The company has a market cap of $44.71 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 1.99 and a beta of 0.35. Franco-Nevada Corporation has a 52-week low of $173.39 and a 52-week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results 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). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.98%. The company had revenue of $580.90 million during the quarter, compared to the consensus estimate of $616.66 million. During the same quarter in the previous year, the business posted $1.24 EPS. The firm’s quarterly revenue was up 57.3% on a year-over-year basis. Equities analysts predict that Franco-Nevada Corporation will post 8.23 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.76 annualized dividend and a yield of 0.8%. Franco-Nevada’s dividend 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.