American Century Companies Inc. Has $43.02 Million Stock Position in Franco-Nevada Corporation $FNV

American Century Companies Inc. lifted its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 10.0% during the 2nd quarter, Holdings Channel reports. The firm owned 262,447 shares of the basic materials company’s stock after acquiring an additional 23,761 shares during the period. American Century Companies Inc.’s holdings in Franco-Nevada were worth $43,024,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FNV. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Franco-Nevada by 198.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company’s stock valued at $268,280,000 after purchasing an additional 1,133,373 shares in the last quarter. Scharf Investments LLC bought a new position in Franco-Nevada during the second quarter worth $78,509,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Franco-Nevada by 101.1% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 672,148 shares of the basic materials company’s stock valued at $105,731,000 after acquiring an additional 337,926 shares during the period. Canada Pension Plan Investment Board grew its holdings in Franco-Nevada by 53.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 883,293 shares of the basic materials company’s stock valued at $138,945,000 after buying an additional 309,161 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Franco-Nevada by 280.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 365,812 shares of the basic materials company’s stock worth $57,526,000 after purchasing an additional 269,730 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $209.27 on Friday. The company has a 50 day simple moving average of $202.01 and a two-hundred day simple moving average of $182.73. Franco-Nevada Corporation has a 1 year low of $114.81 and a 1 year high of $225.63. The firm has a market cap of $40.34 billion, a PE ratio of 51.42, a PEG ratio of 1.70 and a beta of 0.40.

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

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given 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 is Thursday, December 4th. Franco-Nevada’s dividend payout ratio (DPR) is 31.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FNV shares. Zacks Research raised Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. TD Securities decreased their target price on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a research note on Wednesday, November 5th. Raymond James Financial increased their price objective on shares of Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Bank of America upped their price objective on shares of Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus target price of $223.43.

Franco-Nevada Company 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.