Stratos Wealth Partners LTD. Acquires 347 Shares of Franco-Nevada Corporation $FNV

Stratos Wealth Partners LTD. boosted its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 3.3% in the 2nd quarter, Holdings Channel reports. The firm owned 10,891 shares of the basic materials company’s stock after buying an additional 347 shares during the period. Stratos Wealth Partners LTD.’s holdings in Franco-Nevada were worth $1,785,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted 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 acquiring an additional 207,232 shares during the last quarter. Vanguard Group Inc. lifted 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 acquiring an additional 45,924 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Franco-Nevada by 4.4% in the 2nd quarter. TD Asset Management Inc now owns 2,011,787 shares of the basic materials company’s stock valued at $329,626,000 after acquiring an additional 85,117 shares during the last quarter. The Manufacturers Life Insurance Company lifted 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 acquiring an additional 33,044 shares during the last quarter. Finally, Mackenzie Financial Corp lifted 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 acquiring an additional 242,196 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Up 0.7%

Shares of NYSE:FNV opened at $205.20 on Tuesday. The firm has a market cap of $39.55 billion, a P/E ratio of 50.42, a P/E/G ratio of 1.91 and a beta of 0.42. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $225.63. The business has a fifty day simple moving average of $199.80 and a 200 day simple moving average of $176.99.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. The business had revenue of $369.40 million during the quarter, compared to analyst estimates 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 for the quarter was up 42.0% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. As a group, equities research analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were issued 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 was Thursday, September 11th. Franco-Nevada’s dividend payout ratio (DPR) is presently 37.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FNV. HC Wainwright increased their price target on Franco-Nevada from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Canaccord Genuity Group cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Bank of America increased their price target on Franco-Nevada from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Finally, TD Securities raised their target price on Franco-Nevada from $182.00 to $184.00 and gave the stock a “hold” rating in a research report on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Franco-Nevada has a consensus rating of “Hold” and a consensus price target of $210.29.

Franco-Nevada 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.