Abacus Planning Group Inc. Has $1.30 Million Stock Holdings in Franco-Nevada Corporation $FNV

Key Points

• Abacus Planning Group Inc. significantly increased its stake in Franco-Nevada Corporation by 498.6% in the second quarter, bringing its holdings to 7,938 shares valued at approximately $1.3 million.
• Franco-Nevada's latest earnings report exceeded expectations with an EPS of $1.24, surpassing the consensus estimate of $1.10, and revealing a net margin of 58.82%.
• The company recently declared a quarterly dividend of $0.38 per share, resulting in a 0.7% yield and demonstrating a dividend payout ratio of 37.35%.

Abacus Planning Group Inc. lifted its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 498.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 7,938 shares of the basic materials company's stock after acquiring an additional 6,612 shares during the period. Abacus Planning Group Inc.'s holdings in Franco-Nevada were worth $1,301,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its position in Franco-Nevada by 10.3% in the first quarter. SBI Securities Co. Ltd. now owns 683 shares of the basic materials company's stock worth $108,000 after purchasing an additional 64 shares in the last quarter. Beacon Financial Group lifted its position in shares of Franco-Nevada by 1.0% during the 2nd quarter. Beacon Financial Group now owns 7,169 shares of the basic materials company's stock worth $1,175,000 after buying an additional 72 shares during the period. Physician Wealth Advisors Inc. boosted its stake in Franco-Nevada by 22.7% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 513 shares of the basic materials company's stock valued at $84,000 after buying an additional 95 shares in the last quarter. Signaturefd LLC grew its position in Franco-Nevada by 3.1% in the second quarter. Signaturefd LLC now owns 3,292 shares of the basic materials company's stock valued at $540,000 after acquiring an additional 99 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in Franco-Nevada by 0.5% during the first quarter. Public Sector Pension Investment Board now owns 18,550 shares of the basic materials company's stock worth $2,917,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FNV. TD Securities boosted their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a "hold" rating in a research note on Tuesday, August 12th. National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Scotiabank upped their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 12th. Raymond James Financial upped their target price on shares of Franco-Nevada from $203.00 to $218.00 and gave the stock an "outperform" rating in a report on Tuesday, September 23rd. Finally, HC Wainwright upped their target price on shares of Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $194.57.

Franco-Nevada Stock Down 2.2%

Shares of NYSE FNV opened at $217.40 on Friday. The firm's 50-day simple moving average is $188.94 and its 200 day simple moving average is $172.05. The company has a market cap of $41.90 billion, a price-to-earnings ratio of 53.42, a price-to-earnings-growth ratio of 2.91 and a beta of 0.42. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $225.63.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. The business had revenue of $369.40 million for the quarter, compared to the consensus estimate of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The firm's quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. On average, equities analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, September 11th. This represents a $1.52 annualized dividend and a yield of 0.7%. Franco-Nevada's dividend payout ratio is 37.35%.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.