Sigma Planning Corp Raises Stake in Franco-Nevada Corporation $FNV

Sigma Planning Corp increased its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 24.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,226 shares of the basic materials company’s stock after purchasing an additional 441 shares during the quarter. Sigma Planning Corp’s holdings in Franco-Nevada were worth $365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new position in Franco-Nevada during the first quarter worth about $32,000. Opal Wealth Advisors LLC purchased a new stake in shares of Franco-Nevada during the 2nd quarter worth approximately $57,000. Kiker Wealth Management LLC grew its holdings in shares of Franco-Nevada by 20.5% in the 2nd quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 80 shares during the period. Physician Wealth Advisors Inc. increased its stake in Franco-Nevada by 22.7% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 513 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 95 shares in the last quarter. Finally, Cheviot Value Management LLC acquired a new position in Franco-Nevada during the first quarter worth $88,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $191.96 on Monday. The stock has a market capitalization of $37.01 billion, a P/E ratio of 47.16, a P/E/G ratio of 1.70 and a beta of 0.40. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $225.63. The firm’s 50-day moving average is $201.91 and its two-hundred day moving average is $179.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. The business had revenue of $487.70 million during the quarter, compared to analyst estimates of $448.51 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The company’s revenue was up 76.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.80 earnings per share. As a group, analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, December 4th. Franco-Nevada’s payout ratio is presently 31.87%.

Analysts Set New Price Targets

Several research firms have weighed in on FNV. UBS Group upped their target price on Franco-Nevada from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, October 16th. CIBC reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings upgraded shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Finally, Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $223.43.

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.