Franco-Nevada Corporation $FNV Shares Sold by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. lessened its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 38.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,590 shares of the basic materials company’s stock after selling 980 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Franco-Nevada were worth $261,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its position in Franco-Nevada by 10.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 683 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 64 shares in the last quarter. Beacon Financial Group boosted its stake in shares of Franco-Nevada by 1.0% in the second quarter. Beacon Financial Group now owns 7,169 shares of the basic materials company’s stock valued at $1,175,000 after purchasing an additional 72 shares during the period. Kiker Wealth Management LLC boosted its stake in shares of Franco-Nevada by 20.5% in the second quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 80 shares during the period. Physician Wealth Advisors Inc. grew its holdings in shares of Franco-Nevada by 22.7% in the second quarter. Physician Wealth Advisors Inc. now owns 513 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 95 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Franco-Nevada by 10.9% during the 2nd quarter. Blue Trust Inc. now owns 973 shares of the basic materials company’s stock worth $160,000 after buying an additional 96 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FNV shares. Wall Street Zen cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings upgraded Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. UBS Group upped their price target on Franco-Nevada from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. HC Wainwright lifted their price objective on Franco-Nevada from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, TD Securities cut their target price on shares of Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.43.

Franco-Nevada Stock Up 0.2%

Shares of FNV opened at $188.01 on Friday. Franco-Nevada Corporation has a 52-week low of $112.70 and a 52-week high of $225.63. The stock has a 50 day moving average price of $201.85 and a 200 day moving average price of $179.49. The company has a market capitalization of $36.24 billion, a price-to-earnings ratio of 46.19, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40.

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

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, December 4th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is 31.87%.

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.