Avantax Advisory Services Inc. Increases Stake in Franco-Nevada Co. (NYSE:FNV)

Avantax Advisory Services Inc. grew its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,411 shares of the basic materials company’s stock after acquiring an additional 614 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Franco-Nevada were worth $1,342,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new position in shares of Franco-Nevada in the fourth quarter worth about $47,000. Point72 DIFC Ltd purchased a new position in Franco-Nevada in the 3rd quarter worth about $52,000. Erste Asset Management GmbH purchased a new position in Franco-Nevada in the 3rd quarter worth about $55,000. SBI Securities Co. Ltd. purchased a new position in Franco-Nevada in the 4th quarter worth about $73,000. Finally, Jones Financial Companies Lllp increased its stake in Franco-Nevada by 25.6% in the 4th quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company’s stock worth $73,000 after buying an additional 126 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. UBS Group raised their price target on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. HC Wainwright raised their price target on shares of Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Scotiabank raised their target price on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 11th. StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, TD Securities downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research report on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Franco-Nevada has an average rating of “Moderate Buy” and a consensus price target of $153.63.

Franco-Nevada Stock Up 0.2 %

Shares of Franco-Nevada stock opened at $154.31 on Wednesday. The firm’s 50 day moving average price is $137.96 and its 200-day moving average price is $128.62. Franco-Nevada Co. has a 52-week low of $112.70 and a 52-week high of $156.82. The company has a market cap of $29.71 billion, a P/E ratio of -48.83, a PEG ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. During the same quarter in the previous year, the firm earned $0.90 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts forecast that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 0.99%. Franco-Nevada’s dividend payout ratio (DPR) is 53.15%.

About Franco-Nevada

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.