Franco-Nevada Corporation $FNV Shares Bought by IFP Advisors Inc

IFP Advisors Inc increased its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,455 shares of the basic materials company’s stock after purchasing 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 large investors have also modified their holdings of the company. Silicon Valley Capital Partners bought a new stake in Franco-Nevada in the 2nd quarter valued at $31,000. Ascentis Independent Advisors bought a new position in shares of Franco-Nevada during the first quarter valued at $39,000. Transamerica Financial Advisors LLC bought a new stake in shares of Franco-Nevada in the 2nd quarter worth about $33,000. Global Retirement Partners LLC acquired a new stake in shares of Franco-Nevada during the 2nd quarter worth about $35,000. Finally, Dunhill Financial LLC acquired a new stake in shares of Franco-Nevada during the 2nd quarter worth about $36,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FNV has been the topic of several recent research reports. Weiss Ratings upgraded Franco-Nevada from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Scotiabank decreased their price objective on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Jefferies Financial Group dropped their price objective on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a report on Monday, July 6th. Royal Bank Of Canada upped their price objective on Franco-Nevada from $285.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Finally, Bank of America cut their target price on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.80.

Franco-Nevada Trading Up 1.1%

NYSE:FNV opened at $243.63 on Friday. The stock has a market capitalization of $46.99 billion, a PE ratio of 31.85, a P/E/G ratio of 2.24 and a beta of 0.36. Franco-Nevada Corporation has a 1-year low of $181.50 and a 1-year high of $285.67. The firm has a fifty day simple moving average of $253.34 and a 200 day simple moving average of $236.33.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The firm had revenue of $580.90 million during 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%. The business’s revenue was up 57.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 EPS. On average, equities analysts predict that Franco-Nevada Corporation will post 7.47 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were paid a $0.44 dividend. The ex-dividend date was Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada’s dividend payout ratio is 23.01%.

Franco-Nevada 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.