SG Americas Securities LLC Takes Position in Franco-Nevada Corporation $FNV

SG Americas Securities LLC acquired a new stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,494 shares of the basic materials company’s stock, valued at approximately $616,000.

Other hedge funds also recently bought and sold shares of the company. Smith Salley Wealth Management purchased a new position in shares of Franco-Nevada in the 1st quarter valued at $219,000. Triad Wealth Partners LLC lifted its stake in shares of Franco-Nevada by 7.5% during the 1st quarter. Triad Wealth Partners LLC now owns 2,085 shares of the basic materials company’s stock worth $515,000 after purchasing an additional 145 shares during the last quarter. McAlvany Wealth Management LLC purchased a new stake in shares of Franco-Nevada during the 4th quarter worth $4,654,000. Purpose Unlimited Inc. bought a new stake in Franco-Nevada during the fourth quarter valued at about $207,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Franco-Nevada during the fourth quarter valued at about $80,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 1.6%

Shares of NYSE FNV opened at $209.36 on Wednesday. Franco-Nevada Corporation has a 52 week low of $152.89 and a 52 week high of $285.67. The business’s 50 day moving average price is $223.24 and its 200 day moving average price is $237.21. The firm has a market cap of $40.38 billion, a P/E ratio of 29.49, a P/E/G ratio of 1.85 and a beta of 0.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly 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 company had revenue of $650.70 million for the quarter, compared to the consensus estimate of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The firm’s revenue for the quarter was up 76.6% compared to the same quarter last year. During the same period last year, the firm earned $1.07 EPS. As a group, research analysts expect that Franco-Nevada Corporation will post 8.85 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given 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 (DPR) is currently 24.79%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FNV. 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 research note on Wednesday, May 20th. Wall Street Zen cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Scotiabank lifted their price objective on shares of Franco-Nevada from $286.00 to $290.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 14th. Zacks Research lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, HC Wainwright reissued a “buy” rating and set a $305.00 target price on shares of Franco-Nevada in a research report on Wednesday, May 13th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.