3,763 Shares in Franco-Nevada Corporation $FNV Purchased by Allworth Financial LP

Key Points

• Allworth Financial LP purchased 3,763 Franco-Nevada shares worth approximately $784,000 during the second quarter. Institutional investors and hedge funds collectively own 77.06% of the company.
• Analyst sentiment remains positive, with 11 Buy ratings and four Holds producing a consensus “Moderate Buy” rating and a $273.40 price target.
• Franco-Nevada reported quarterly EPS of $1.81, below the $1.95 estimate, while revenue rose 57.3% year over year to $580.9 million. The company declared a quarterly dividend of $0.44 per share, equal to a 0.7% yield.

Allworth Financial LP bought a new stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,763 shares of the basic materials company's stock, valued at approximately $784,000.

A number of other large investors also recently made changes to their positions in the business. Transamerica Financial Advisors LLC purchased a new position in shares of Franco-Nevada during the 4th quarter valued at $25,000. Ascentis Independent Advisors purchased a new stake in shares of Franco-Nevada during the first quarter worth $39,000. Navalign LLC purchased a new stake in shares of Franco-Nevada during the fourth quarter worth $34,000. Global Retirement Partners LLC acquired a new stake in Franco-Nevada during the second quarter valued at $35,000. Finally, Dunhill Financial LLC acquired a new stake in Franco-Nevada during the second quarter valued at $36,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. National Bank Financial raised Franco-Nevada from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, May 13th. TD Cowen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating and dropped their price target for the stock from $292.00 to $291.00 in a research note on Wednesday, May 20th. Scotiabank cut their price target on shares of Franco-Nevada from $290.00 to $274.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. Wall Street Zen downgraded shares of Franco-Nevada from a "buy" rating to a "hold" rating in a research report on Monday, June 1st. Finally, TD Securities upgraded Franco-Nevada from a "hold" rating to a "buy" rating and set a $291.00 target price on the stock in a report on Wednesday, May 20th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Franco-Nevada currently has a consensus rating of "Moderate Buy" and a consensus price target of $273.40.

Franco-Nevada Trading Up 3.0%

Shares of Franco-Nevada stock opened at $265.78 on Friday. The company's fifty day simple moving average is $219.57 and its 200-day simple moving average is $235.05. The company has a market cap of $51.26 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 2.43 and a beta of 0.35. Franco-Nevada Corporation has a 1 year low of $180.32 and a 1 year high of $285.67.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 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 company had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. During the same quarter in the previous year, the company earned $1.24 earnings per share. Franco-Nevada's revenue for the quarter was up 57.3% compared to the same quarter last year. As a group, research analysts forecast that Franco-Nevada Corporation will post 7.62 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders 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 annualized dividend and a yield of 0.7%. Franco-Nevada's dividend payout ratio is 23.01%.

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.

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