Laurel Wealth Advisors LLC Acquires 65,168 Shares of Franco-Nevada Corporation $FNV

Laurel Wealth Advisors LLC boosted its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 16,292.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 65,568 shares of the basic materials company’s stock after buying an additional 65,168 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Franco-Nevada were worth $10,748,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MTM Investment Management LLC bought a new position in Franco-Nevada in the second quarter worth approximately $32,000. Golden State Wealth Management LLC raised its holdings in Franco-Nevada by 78.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 90 shares during the period. CENTRAL TRUST Co lifted its position in Franco-Nevada by 590.9% during the second quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 195 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Franco-Nevada during the second quarter valued at about $57,000. Finally, Kiker Wealth Management LLC increased its position in Franco-Nevada by 20.5% in the second quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company’s stock worth $77,000 after buying an additional 80 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on FNV. UBS Group lifted their price objective on Franco-Nevada from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. HC Wainwright lifted their price target on shares of Franco-Nevada from $200.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday. Finally, TD Securities dropped 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. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $223.43.

Franco-Nevada Stock Performance

FNV stock opened at $207.39 on Thursday. The company’s fifty day moving average price is $202.01 and its 200-day moving average price is $182.20. Franco-Nevada Corporation has a one year low of $114.81 and a one year high of $225.63. The company has a market capitalization of $39.98 billion, a PE ratio of 50.96, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.06. The company had revenue of $487.70 million during the quarter, compared to analysts’ expectations of $448.51 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. Franco-Nevada’s quarterly revenue was up 76.9% on a year-over-year basis. During the same period last year, the company posted $0.80 earnings per share. On average, research analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, December 4th. Franco-Nevada’s payout ratio is 31.87%.

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.