Ashton Thomas Securities LLC Raises Stock Position in Franco-Nevada Corporation $FNV

Ashton Thomas Securities LLC lifted its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 23.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,111 shares of the basic materials company’s stock after buying an additional 2,451 shares during the period. Ashton Thomas Securities LLC’s holdings in Franco-Nevada were worth $2,923,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Obermeyer Wealth Partners purchased a new position in Franco-Nevada in the third quarter worth about $226,000. PKO Investment Management Joint Stock Co lifted its position in Franco-Nevada by 9.6% in the third quarter. PKO Investment Management Joint Stock Co now owns 62,764 shares of the basic materials company’s stock worth $13,978,000 after buying an additional 5,500 shares during the last quarter. MGO One Seven LLC lifted its position in Franco-Nevada by 20.5% in the third quarter. MGO One Seven LLC now owns 3,953 shares of the basic materials company’s stock worth $881,000 after buying an additional 673 shares during the last quarter. Bristlecone Advisors LLC purchased a new position in Franco-Nevada during the third quarter worth $223,000. Finally, ORG Wealth Partners LLC bought a new position in Franco-Nevada during the third quarter valued at $124,000. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. TD Securities lowered their target price on shares of Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. UBS Group increased their price objective on shares of Franco-Nevada from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Zacks Research lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Royal Bank Of Canada raised Franco-Nevada from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $225.00 to $250.00 in a research note on Wednesday, December 10th. Finally, Bank of America raised their price target on Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.75.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $237.84 on Wednesday. Franco-Nevada Corporation has a 52-week low of $123.66 and a 52-week high of $238.57. The firm has a market capitalization of $45.85 billion, a price-to-earnings ratio of 49.86, a PEG ratio of 1.39 and a beta of 0.48. The stock has a 50 day moving average price of $206.86 and a 200 day moving average price of $193.25.

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

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, December 4th. Franco-Nevada’s dividend payout ratio is presently 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.