IFP Advisors Inc Acquires 52,798 Shares of Franco-Nevada Corporation $FNV

IFP Advisors Inc increased its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 858.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,950 shares of the basic materials company’s stock after buying an additional 52,798 shares during the quarter. IFP Advisors Inc’s holdings in Franco-Nevada were worth $13,141,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FNV. Burkett Financial Services LLC purchased a new stake in Franco-Nevada during the third quarter valued at approximately $28,000. Smartleaf Asset Management LLC boosted its stake 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 worth $32,000 after acquiring an additional 168 shares during the last quarter. City Holding Co. bought a new stake in shares of Franco-Nevada during the 3rd quarter valued at $56,000. Montag A & Associates Inc. grew its position in shares of Franco-Nevada by 150.0% during the 3rd quarter. Montag A & Associates Inc. now owns 250 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 150 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Franco-Nevada by 19.6% in the 3rd quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 71 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

FNV opened at $243.05 on Thursday. The stock has a market cap of $46.86 billion, a price-to-earnings ratio of 42.20, a price-to-earnings-growth ratio of 3.70 and a beta of 0.45. The firm’s fifty day moving average is $252.80 and its 200 day moving average is $220.89. Franco-Nevada Corporation has a fifty-two week low of $140.03 and a fifty-two week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.18. The business had revenue of $597.30 million during the quarter, compared to analyst estimates of $542.02 million. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.Franco-Nevada’s revenue for the quarter was up 86.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 EPS. On average, equities research analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a dividend of $0.44 per share. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, March 12th. Franco-Nevada’s dividend payout ratio (DPR) is 30.56%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FNV. Royal Bank Of Canada raised Franco-Nevada from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $225.00 to $250.00 in a report on Wednesday, December 10th. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 24th. UBS Group restated a “buy” rating and issued a $310.00 price target on shares of Franco-Nevada in a research report on Friday, January 30th. Scotiabank raised their price objective on Franco-Nevada from $283.00 to $286.00 and gave the stock a “sector perform” rating in a research note on Monday. Finally, HC Wainwright lifted their price objective on Franco-Nevada from $285.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.25.

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.