SG Americas Securities LLC Purchases New Shares in Franco-Nevada Corporation $FNV

SG Americas Securities LLC purchased a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,494 shares of the basic materials company’s stock, valued at approximately $616,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Franco-Nevada by 112.3% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 64 shares during the period. Transamerica Financial Advisors LLC bought a new stake in shares of Franco-Nevada in the 4th quarter worth about $25,000. Burkett Financial Services LLC purchased a new position in shares of Franco-Nevada during the 3rd quarter worth about $28,000. Private Trust Co. NA purchased a new position in shares of Franco-Nevada during the 4th quarter worth about $29,000. Finally, Smartleaf Asset Management LLC grew its holdings 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 purchasing an additional 168 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Down 1.6%

FNV opened at $209.36 on Wednesday. The stock’s fifty day moving average is $223.24 and its two-hundred day moving average is $237.21. The company has a market capitalization of $40.38 billion, a P/E ratio of 29.49, a PEG ratio of 1.85 and a beta of 0.36. Franco-Nevada Corporation has a 52 week low of $152.89 and a 52 week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.29. The business had revenue of $650.70 million during the quarter, compared to analysts’ expectations of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business’s revenue for the quarter was up 76.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 EPS. Equities analysts anticipate that Franco-Nevada Corporation will post 8.85 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, June 11th. Franco-Nevada’s dividend payout ratio is presently 24.79%.

Analysts Set New Price Targets

FNV has been the topic of a number of recent analyst reports. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective on the stock in a research report on Wednesday, May 20th. Jefferies Financial Group cut their target price on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research note on Monday. Scotiabank increased their price target on Franco-Nevada from $286.00 to $290.00 and gave the stock a “sector perform” rating in a report on Thursday, May 14th. Weiss Ratings downgraded Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.70.

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.