IFP Advisors Inc Sells 4,959 Shares of Franco-Nevada Corporation $FNV

IFP Advisors Inc lessened its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 44.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,152 shares of the basic materials company’s stock after selling 4,959 shares during the quarter. IFP Advisors Inc’s holdings in Franco-Nevada were worth $1,008,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Franco-Nevada by 1.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company’s stock valued at $1,923,400,000 after purchasing an additional 207,232 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Franco-Nevada by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,845,339 shares of the basic materials company’s stock valued at $1,233,891,000 after purchasing an additional 45,924 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Franco-Nevada by 1.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,980,772 shares of the basic materials company’s stock valued at $313,071,000 after purchasing an additional 33,044 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Franco-Nevada by 6.8% in the 1st quarter. TD Asset Management Inc now owns 1,926,670 shares of the basic materials company’s stock valued at $302,979,000 after purchasing an additional 122,071 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Franco-Nevada by 16.0% in the 1st quarter. Mackenzie Financial Corp now owns 1,756,344 shares of the basic materials company’s stock valued at $276,224,000 after purchasing an additional 242,196 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Up 0.3%

Shares of NYSE:FNV opened at $204.30 on Monday. The stock has a market capitalization of $39.37 billion, a P/E ratio of 50.20, a P/E/G ratio of 2.67 and a beta of 0.42. The business has a 50-day moving average price of $195.27 and a two-hundred day moving average price of $174.73. Franco-Nevada Corporation has a 1-year low of $112.70 and a 1-year high of $225.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. The company had revenue of $369.40 million during the quarter, compared to analysts’ expectations of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.Franco-Nevada’s revenue was up 42.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. As a group, equities analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 11th. Franco-Nevada’s dividend payout ratio is presently 37.35%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FNV shares. Canaccord Genuity Group downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Wall Street Zen downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Raymond James Financial upped their price target on shares of Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a research report on Friday. CIBC reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Finally, Weiss Ratings downgraded shares of Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $196.86.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.