Independent Advisor Alliance Acquires 2,198 Shares of Franco-Nevada Corporation $FNV

Independent Advisor Alliance lifted its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 11.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 21,848 shares of the basic materials company’s stock after acquiring an additional 2,198 shares during the period. Independent Advisor Alliance’s holdings in Franco-Nevada were worth $4,870,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MTM Investment Management LLC acquired a new position in shares of Franco-Nevada in the 2nd quarter valued at $32,000. Smartleaf Asset Management LLC grew its stake in shares of Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Franco-Nevada by 78.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock worth $34,000 after buying an additional 90 shares in the last quarter. CENTRAL TRUST Co lifted its position in shares of Franco-Nevada by 590.9% during 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 period. Finally, City Holding Co. acquired a new stake in Franco-Nevada in the 3rd quarter valued at $56,000. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FNV shares. Weiss Ratings lowered shares of Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 26th. Bank of America lifted their target price on shares of Franco-Nevada from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Jefferies Financial Group restated a “hold” rating and set a $228.00 price target on shares of Franco-Nevada in a research report on Sunday, December 7th. Royal Bank Of Canada upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $225.00 to $250.00 in a research report on Wednesday, December 10th. Finally, Scotiabank increased their target price on Franco-Nevada from $225.00 to $283.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $245.00.

Franco-Nevada Stock Performance

Shares of FNV opened at $234.25 on Monday. The firm has a market cap of $45.16 billion, a P/E ratio of 49.11, a PEG ratio of 1.32 and a beta of 0.47. Franco-Nevada Corporation has a twelve month low of $135.16 and a twelve month high of $273.55. The firm’s 50 day moving average price is $221.90 and its two-hundred day moving average price is $201.53.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.37 by $0.06. Franco-Nevada had a net margin of 59.48% and a return on equity of 13.94%. The firm had revenue of $487.70 million for the quarter, compared to analysts’ expectations of $448.51 million. During the same period in the previous year, the firm posted $0.80 EPS. The company’s revenue for the quarter was up 76.9% on a year-over-year basis. On average, sell-side analysts anticipate that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be paid a $0.44 dividend. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, March 12th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is currently 31.87%.

Franco-Nevada 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.