Altfest L J & Co. Inc. Raises Stock Holdings in Franco-Nevada Corporation $FNV

Altfest L J & Co. Inc. raised its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 189.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,556 shares of the basic materials company’s stock after acquiring an additional 4,943 shares during the period. Altfest L J & Co. Inc.’s holdings in Franco-Nevada were worth $1,684,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FNV. MTM Investment Management LLC bought a new position in Franco-Nevada during the second quarter valued at approximately $32,000. Smartleaf Asset Management LLC raised its stake in 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 buying an additional 168 shares during the last quarter. Golden State Wealth Management LLC raised its stake in Franco-Nevada by 78.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock valued at $34,000 after buying an additional 90 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of Franco-Nevada by 590.9% in the 2nd quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock worth $37,000 after buying an additional 195 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Franco-Nevada in the 2nd quarter worth $57,000. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FNV. TD Securities lowered their target price on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Bank of America upped their price target on shares of Franco-Nevada from $211.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. HC Wainwright raised their price objective on shares of Franco-Nevada from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Finally, Scotiabank increased their price target on shares of Franco-Nevada from $184.00 to $225.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.75.

Franco-Nevada Trading Up 0.5%

Shares of NYSE:FNV opened at $208.24 on Friday. The stock has a 50 day moving average of $201.54 and a 200 day moving average of $190.02. The company has a market cap of $40.15 billion, a PE ratio of 43.66, a price-to-earnings-growth ratio of 1.23 and a beta of 0.48. Franco-Nevada Corporation has a 12-month low of $120.67 and a 12-month high of $225.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, November 3rd. The basic materials company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. The company had revenue of $487.70 million for the quarter, compared to analysts’ expectations of $448.51 million. Franco-Nevada had a net margin of 59.48% and a return on equity of 13.94%. The firm’s revenue was up 76.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.80 EPS. Equities research analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, December 4th. Franco-Nevada’s dividend payout ratio is presently 31.87%.

Franco-Nevada Company Profile

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.