SG Americas Securities LLC Has $223,000 Stock Position in Franco-Nevada Corporation $FNV

SG Americas Securities LLC lessened its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 98.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,000 shares of the basic materials company’s stock after selling 53,835 shares during the quarter. SG Americas Securities LLC’s holdings in Franco-Nevada were worth $223,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Franco-Nevada during the second quarter worth $460,218,000. Arrowstreet Capital Limited Partnership grew its holdings in Franco-Nevada by 35.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock worth $528,289,000 after acquiring an additional 838,853 shares during the period. Picton Mahoney Asset Management acquired a new stake in Franco-Nevada during the 2nd quarter worth about $80,621,000. Invesco Ltd. raised its position in shares of Franco-Nevada by 110.6% in the 2nd quarter. Invesco Ltd. now owns 902,017 shares of the basic materials company’s stock worth $147,859,000 after acquiring an additional 473,697 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Franco-Nevada by 1,084.0% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 350,236 shares of the basic materials company’s stock valued at $57,411,000 after purchasing an additional 320,656 shares during the period. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FNV shares. Canaccord Genuity Group downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. HC Wainwright boosted their target price on shares of Franco-Nevada from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Weiss Ratings cut shares of Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Finally, Royal Bank Of Canada upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $225.00 to $250.00 in a report on Wednesday, December 10th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $240.00.

Franco-Nevada Trading Up 2.3%

Shares of FNV stock opened at $267.99 on Thursday. The firm has a fifty day simple moving average of $219.60 and a two-hundred day simple moving average of $199.95. Franco-Nevada Corporation has a 12 month low of $130.05 and a 12 month high of $268.80. The firm has a market capitalization of $51.67 billion, a PE ratio of 56.18, a price-to-earnings-growth ratio of 1.48 and a beta of 0.48.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. The firm had revenue of $487.70 million for the quarter, compared to analyst estimates of $448.51 million. Franco-Nevada had a net margin of 59.48% and a return on equity of 13.94%. The business’s quarterly revenue was up 76.9% compared to the same quarter last year. During the same period last year, the firm earned $0.80 earnings per share. On average, equities analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s dividend payout ratio is presently 31.87%.

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.