IFP Advisors Inc Acquires 52,798 Shares of Franco-Nevada Corporation $FNV

IFP Advisors Inc raised its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 858.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,950 shares of the basic materials company’s stock after buying an additional 52,798 shares during the quarter. IFP Advisors Inc’s holdings in Franco-Nevada were worth $13,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Burkett Financial Services LLC purchased a new position in shares of Franco-Nevada in the third quarter worth $28,000. Smartleaf Asset Management LLC grew its stake in Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares in the last quarter. City Holding Co. bought a new stake in Franco-Nevada in the 3rd quarter valued at $56,000. Montag A & Associates Inc. increased its holdings in Franco-Nevada by 150.0% in the 3rd quarter. Montag A & Associates Inc. now owns 250 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 150 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Franco-Nevada by 19.6% in the 3rd quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

FNV has been the subject of several research reports. HC Wainwright increased their price objective on shares of Franco-Nevada from $285.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, February 4th. Wall Street Zen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Canaccord Genuity Group lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Zacks Research upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $257.25.

Franco-Nevada Stock Down 4.6%

FNV stock opened at $243.05 on Thursday. Franco-Nevada Corporation has a 52 week low of $140.03 and a 52 week high of $285.67. The firm has a market capitalization of $46.86 billion, a P/E ratio of 42.20, a price-to-earnings-growth ratio of 3.70 and a beta of 0.45. The company has a fifty day simple moving average of $252.80 and a two-hundred day simple moving average of $220.89.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.18. The firm had revenue of $597.30 million for the quarter, compared to the consensus estimate of $542.02 million. Franco-Nevada had a net margin of 61.01% and a return on equity of 15.62%. The business’s quarterly revenue was up 86.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 EPS. As a group, analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current 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 paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, March 12th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 annualized dividend and a yield of 0.7%. Franco-Nevada’s payout ratio is presently 30.56%.

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.