U S Global Investors Inc. lowered its stake in shares of Franco-Nevada Corporation (NYSE:FNV – Free Report) (TSE:FNV) by 5.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,410 shares of the basic materials company’s stock after selling 4,901 shares during the period. Franco-Nevada accounts for 2.4% of U S Global Investors Inc.’s investment portfolio, making the stock its 10th largest position. U S Global Investors Inc.’s holdings in Franco-Nevada were worth $20,853,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Franco-Nevada by 112.3% during the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 64 shares during the period. Transamerica Financial Advisors LLC purchased a new position in Franco-Nevada during the fourth quarter worth about $25,000. Burkett Financial Services LLC purchased a new position in Franco-Nevada during the third quarter worth about $28,000. Private Trust Co. NA acquired a new position in Franco-Nevada in the 4th quarter valued at about $29,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of Franco-Nevada in the 1st quarter valued at approximately $39,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on FNV. Bank of America cut their price target on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a report on Thursday. UBS Group lowered their price objective on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Wall Street Zen cut Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $275.00.
Franco-Nevada Stock Performance
Shares of FNV traded down $2.52 during midday trading on Friday, hitting $205.57. 407,728 shares of the stock were exchanged, compared to its average volume of 757,434. Franco-Nevada Corporation has a 52-week low of $152.89 and a 52-week high of $285.67. The stock has a fifty day simple moving average of $221.55 and a 200 day simple moving average of $236.93. The firm has a market cap of $39.65 billion, a P/E ratio of 28.95, a P/E/G ratio of 1.73 and a beta of 0.36.
Franco-Nevada (NYSE:FNV – Get 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, beating the consensus estimate of $2.09 by $0.29. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The firm had revenue of $650.70 million for the quarter, compared to the consensus estimate of $634.43 million. During the same quarter in the previous year, the business earned $1.07 EPS. The company’s quarterly revenue was up 76.6% compared to the same quarter last year. As a group, equities research analysts forecast that Franco-Nevada Corporation will post 8.37 EPS for the current fiscal year.
Franco-Nevada Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 11th. Franco-Nevada’s payout ratio is currently 24.79%.
Franco-Nevada Company 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.
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