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

IFP Advisors Inc boosted its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,770 shares of the basic materials company’s stock after acquiring an additional 2,480 shares during the period. IFP Advisors Inc’s holdings in Franco-Nevada were worth $18,712,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC purchased a new position in shares of Franco-Nevada in the 4th quarter valued at approximately $25,000. Ascentis Independent Advisors acquired a new position in Franco-Nevada in the 1st quarter valued at $39,000. Navalign LLC acquired a new position in Franco-Nevada in the 4th quarter valued at $34,000. Global Retirement Partners LLC purchased a new position in Franco-Nevada during the 2nd quarter worth $35,000. Finally, Dunhill Financial LLC acquired a new stake in shares of Franco-Nevada in the 2nd quarter worth $36,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Down 0.9%

Shares of FNV opened at $263.85 on Wednesday. The company has a 50-day simple moving average of $231.36 and a 200-day simple moving average of $236.82. The company has a market capitalization of $50.89 billion, a PE ratio of 34.49, a P/E/G 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 data on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The company had revenue of $580.90 million for the quarter, compared to analysts’ expectations of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The firm’s quarterly revenue was up 57.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 EPS. On average, research analysts anticipate that Franco-Nevada Corporation will post 7.54 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. Franco-Nevada’s payout ratio is 23.01%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FNV shares. Scotiabank dropped their price target on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 target price on the stock in a research report on Wednesday, May 20th. Zacks Research raised Franco-Nevada from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Bank of America cut their target price on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada reduced their price target on Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.40.

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.