Franco-Nevada Corporation $FNV Shares Bought by IFP Advisors Inc

IFP Advisors Inc lifted its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 66.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,016 shares of the basic materials company’s stock after acquiring an additional 39,067 shares during the period. IFP Advisors Inc’s holdings in Franco-Nevada were worth $20,317,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. PFG Investments LLC increased its position in shares of Franco-Nevada by 0.6% in the fourth quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock worth $1,484,000 after acquiring an additional 46 shares in the last quarter. Composition Wealth LLC increased its position in shares of Franco-Nevada by 0.8% in the fourth quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock worth $1,266,000 after acquiring an additional 49 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Franco-Nevada by 27.6% in the third quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 54 shares in the last quarter. Lafayette Investments Inc. boosted its stake in shares of Franco-Nevada by 2.4% in the third quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company’s stock valued at $561,000 after purchasing an additional 60 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Franco-Nevada by 112.3% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FNV. HC Wainwright restated a “buy” rating and issued a $305.00 target price on shares of Franco-Nevada in a research note on Wednesday, May 13th. Zacks Research downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Scotiabank upped their target price on shares of Franco-Nevada from $286.00 to $290.00 and gave the company a “sector perform” rating in a research note on Thursday, May 14th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Finally, Wall Street Zen downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Saturday. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $257.75.

Franco-Nevada Price Performance

NYSE FNV opened at $222.56 on Wednesday. Franco-Nevada Corporation has a 12 month low of $152.89 and a 12 month high of $285.67. The company has a market capitalization of $42.92 billion, a price-to-earnings ratio of 31.35, a price-to-earnings-growth ratio of 1.95 and a beta of 0.34. The company’s fifty day moving average price is $244.61 and its two-hundred day moving average price is $232.27.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.29. The firm had revenue of $650.70 million for the quarter, compared to the consensus estimate of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The firm’s revenue was up 76.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS. As a group, analysts anticipate that Franco-Nevada Corporation will post 8.84 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 11th. Franco-Nevada’s dividend payout ratio is 24.79%.

Franco-Nevada 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.