Marathon Asset Management Ltd Sells 17,982 Shares of Franco-Nevada Corporation $FNV

Marathon Asset Management Ltd lowered its stake in Franco-Nevada Corporation (NYSE:FNVFree Report) (TSE:FNV) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 288,741 shares of the basic materials company’s stock after selling 17,982 shares during the quarter. Franco-Nevada accounts for approximately 2.3% of Marathon Asset Management Ltd’s portfolio, making the stock its 12th largest position. Marathon Asset Management Ltd owned approximately 0.15% of Franco-Nevada worth $59,930,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Franco-Nevada by 112.3% in the 4th 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 in the last quarter. Burkett Financial Services LLC bought a new stake in shares of Franco-Nevada in the 3rd quarter valued at $28,000. Private Trust Co. NA bought a new stake in shares of Franco-Nevada in the 4th quarter valued at $29,000. Navalign LLC bought a new stake in shares of Franco-Nevada in the 4th quarter valued at $34,000. Finally, Stephens Consulting LLC bought a new stake in shares of Franco-Nevada in the 4th quarter valued at $36,000. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Down 1.3%

Shares of FNV stock opened at $222.56 on Wednesday. The firm has a market capitalization of $42.92 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.95 and a beta of 0.34. The firm has a fifty day simple moving average of $244.61 and a two-hundred day simple moving average of $232.27. Franco-Nevada Corporation has a 12 month low of $152.89 and a 12 month high of $285.67.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last posted its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.29. The firm had revenue of $650.70 million for the quarter, compared to the consensus estimate of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The business’s revenue for the quarter was up 76.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 EPS. On average, equities analysts predict that Franco-Nevada Corporation will post 8.84 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 11th. Franco-Nevada’s payout ratio is currently 24.79%.

Analysts Set New Price Targets

A number of brokerages have commented on FNV. UBS Group restated a “buy” rating and set a $310.00 price target on shares of Franco-Nevada in a research note on Friday, January 30th. Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, March 20th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $257.75.

Read Our Latest Research Report on Franco-Nevada

Franco-Nevada Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Franco-Nevada (NYSE:FNV)

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