Ashton Thomas Securities LLC Has $3.11 Million Stock Position in Franco-Nevada Corporation $FNV

Ashton Thomas Securities LLC reduced its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 17.5% in the first quarter, HoldingsChannel reports. The firm owned 12,588 shares of the basic materials company’s stock after selling 2,669 shares during the period. Ashton Thomas Securities LLC’s holdings in Franco-Nevada were worth $3,110,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FNV. GAMMA Investing LLC boosted its holdings in shares of Franco-Nevada by 112.3% during the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after buying an additional 64 shares in the last quarter. Transamerica Financial Advisors LLC bought a new stake in shares of Franco-Nevada in the 4th quarter valued at $25,000. Private Trust Co. NA bought a new stake in shares of Franco-Nevada in the 4th quarter valued at $29,000. Smartleaf Asset Management LLC lifted its position in shares of Franco-Nevada by 600.0% during the 2nd 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 during the period. Finally, Navalign LLC acquired a new position in shares of Franco-Nevada during the 4th quarter valued at $34,000. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Up 1.8%

Shares of NYSE:FNV opened at $214.29 on Thursday. Franco-Nevada Corporation has a twelve month low of $157.18 and a twelve month high of $285.67. The stock’s 50 day moving average is $215.40 and its 200-day moving average is $236.50. The firm has a market capitalization of $41.33 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 1.78 and a beta of 0.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.29. The business had revenue of $650.70 million during the quarter, compared to the consensus estimate of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. Franco-Nevada’s revenue was up 76.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 EPS. Equities research analysts anticipate that Franco-Nevada Corporation will post 8.23 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, June 11th. Franco-Nevada’s dividend payout ratio (DPR) is currently 24.79%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. National Bank Financial raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. TD raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and decreased their price target for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective on the stock in a report on Wednesday, May 20th. Jefferies Financial Group cut their price objective on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. Eleven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $273.40.

About Franco-Nevada

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.