Abacus Planning Group Inc. Has $1.30 Million Holdings in Franco-Nevada Corporation $FNV

Abacus Planning Group Inc. raised its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 498.6% during the second quarter, HoldingsChannel.com reports. The firm owned 7,938 shares of the basic materials company’s stock after acquiring an additional 6,612 shares during the quarter. Abacus Planning Group Inc.’s holdings in Franco-Nevada were worth $1,301,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its position in Franco-Nevada by 1.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company’s stock valued at $1,923,400,000 after purchasing an additional 207,232 shares during the period. Vanguard Group Inc. lifted its position in Franco-Nevada by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 7,845,339 shares of the basic materials company’s stock valued at $1,233,891,000 after purchasing an additional 45,924 shares during the period. The Manufacturers Life Insurance Company lifted its position in Franco-Nevada by 1.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,980,772 shares of the basic materials company’s stock valued at $313,071,000 after purchasing an additional 33,044 shares during the period. TD Asset Management Inc lifted its position in Franco-Nevada by 6.8% during the 1st quarter. TD Asset Management Inc now owns 1,926,670 shares of the basic materials company’s stock valued at $302,979,000 after purchasing an additional 122,071 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Franco-Nevada by 16.0% during the 1st quarter. Mackenzie Financial Corp now owns 1,756,344 shares of the basic materials company’s stock valued at $276,224,000 after purchasing an additional 242,196 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Scotiabank upped their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 12th. National Bankshares reiterated a “sector perform” rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. Raymond James Financial increased their price target on shares of Franco-Nevada from $203.00 to $218.00 and gave the company an “outperform” rating in a research report on Tuesday, September 23rd. TD Securities increased their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a “hold” rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus target price of $194.57.

Franco-Nevada Price Performance

Shares of NYSE:FNV opened at $217.40 on Friday. The firm’s 50 day simple moving average is $188.94 and its 200 day simple moving average is $172.05. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $225.63. The company has a market capitalization of $41.90 billion, a price-to-earnings ratio of 53.42, a P/E/G ratio of 2.91 and a beta of 0.42.

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

Franco-Nevada Announces Dividend

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

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.