Ieq Capital LLC Purchases Shares of 3,919 Franco-Nevada Corporation $FNV

Ieq Capital LLC purchased a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,919 shares of the basic materials company’s stock, valued at approximately $817,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FNV. Transamerica Financial Advisors LLC bought a new position in shares of Franco-Nevada during the 4th quarter worth approximately $25,000. Ascentis Independent Advisors acquired a new stake in Franco-Nevada in the first quarter valued at approximately $39,000. Navalign LLC purchased a new position in Franco-Nevada in the fourth quarter worth $34,000. Global Retirement Partners LLC purchased a new position in Franco-Nevada in the second quarter worth $35,000. Finally, Dunhill Financial LLC acquired a new position in shares of Franco-Nevada during the second quarter worth $36,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FNV shares. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 13th. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 target price on the stock in a research report on Wednesday, May 20th. TD upgraded 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. Zacks Research raised Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, HC Wainwright restated a “buy” rating and set a $305.00 price objective on shares of Franco-Nevada in a report on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.40.

Franco-Nevada Trading Up 1.7%

NYSE:FNV opened at $271.94 on Friday. The company has a market capitalization of $52.45 billion, a P/E ratio of 35.55, a PEG ratio of 2.47 and a beta of 0.35. Franco-Nevada Corporation has a 12 month low of $181.50 and a 12 month high of $285.67. The firm has a fifty day simple moving average of $223.21 and a 200-day simple moving average of $236.10.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The firm had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. During the same period in the previous year, the company earned $1.24 earnings per share. Franco-Nevada’s revenue was up 57.3% on a year-over-year basis. Equities analysts forecast that Franco-Nevada Corporation will post 7.54 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.6%. Franco-Nevada’s dividend payout ratio is currently 23.01%.

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.