2,685 Franco-Nevada Corporation $FNV Shares Acquired by IFP Advisors Inc

IFP Advisors Inc raised its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 3.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 92,455 shares of the basic materials company’s stock after buying an additional 2,685 shares during the period. IFP Advisors Inc’s holdings in Franco-Nevada were worth $22,014,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Berman McAleer LLC acquired a new position in shares of Franco-Nevada during the 3rd quarter valued at $280,000. TD Waterhouse Canada Inc. boosted its stake in Franco-Nevada by 3.6% during the third quarter. TD Waterhouse Canada Inc. now owns 846,399 shares of the basic materials company’s stock worth $196,535,000 after acquiring an additional 29,092 shares in the last quarter. Banque Pictet & Cie SA bought a new position in Franco-Nevada during the third quarter worth $1,629,000. Annex Advisory Services LLC grew its holdings in Franco-Nevada by 63.4% in the third quarter. Annex Advisory Services LLC now owns 262,442 shares of the basic materials company’s stock worth $62,490,000 after purchasing an additional 101,837 shares during the period. Finally, Global Strategic Management Inc. grew its holdings in Franco-Nevada by 0.6% in the third quarter. Global Strategic Management Inc. now owns 76,915 shares of the basic materials company’s stock worth $18,354,000 after purchasing an additional 430 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on FNV shares. Royal Bank Of Canada lifted their price target on shares of Franco-Nevada from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Scotiabank cut their price objective on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Zacks Research upgraded Franco-Nevada from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Bank of America reduced 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, Jefferies Financial Group decreased their target price on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $267.80.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $243.63 on Friday. Franco-Nevada Corporation has a fifty-two week low of $181.50 and a fifty-two week high of $285.67. The stock has a market cap of $46.99 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 2.24 and a beta of 0.36. The firm’s 50-day simple moving average is $253.34 and its 200 day simple moving average is $236.33.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (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 analyst estimates of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. Franco-Nevada’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 EPS. On average, sell-side analysts predict that Franco-Nevada Corporation will post 7.47 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. Franco-Nevada’s dividend payout ratio (DPR) is currently 23.01%.

Franco-Nevada Company Profile

Franco-Nevada Corporation (NYSE:FNV) is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and natural resource companies in exchange for the right to receive a portion of future production or revenue. This business model gives Franco-Nevada exposure to commodity production while generally limiting its direct responsibility for operating and capital costs.

The company holds a diversified portfolio of royalties, streams and other interests tied primarily to gold, as well as silver, platinum-group metals, iron ore and other minerals.