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

IFP Advisors Inc increased its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,770 shares of the basic materials company’s stock after purchasing an additional 2,480 shares during the quarter. IFP Advisors Inc’s holdings in Franco-Nevada were worth $18,712,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC purchased a new stake in shares of Franco-Nevada during the fourth quarter worth $25,000. Smartleaf Asset Management LLC lifted its position in shares of Franco-Nevada by 600.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares during the last quarter. Navalign LLC purchased a new stake in shares of Franco-Nevada during the 4th quarter worth $34,000. Global Retirement Partners LLC acquired a new position in shares of Franco-Nevada during the second quarter worth $35,000. Finally, Dunhill Financial LLC acquired a new position in shares of Franco-Nevada during the second quarter worth $36,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on FNV shares. Bank of America cut their price target on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective for the company in a research report on Wednesday, May 20th. National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. UBS Group decreased their target price on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Zacks Research raised Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Franco-Nevada has an average rating of “Moderate Buy” and a consensus target price of $273.40.

Franco-Nevada Stock Down 0.9%

Shares of NYSE FNV opened at $263.85 on Wednesday. The business has a 50-day moving average price of $231.36 and a 200 day moving average price of $236.82. The stock has a market cap of $50.89 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 2.46 and a beta of 0.39. Franco-Nevada Corporation has a 52-week low of $181.50 and a 52-week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The firm had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. During the same period last year, the firm earned $1.24 EPS. The company’s quarterly revenue was up 57.3% on a year-over-year basis. Sell-side analysts anticipate that Franco-Nevada Corporation will post 7.54 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, September 10th. Franco-Nevada’s payout ratio is presently 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.