Franco-Nevada Corporation $FNV Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lessened its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 4.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,081,100 shares of the basic materials company’s stock after selling 51,012 shares during the quarter. Beutel Goodman & Co Ltd.’s holdings in Franco-Nevada were worth $177,135,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FNV. Vanguard Group Inc. lifted its stake in Franco-Nevada by 3.1% in the second quarter. Vanguard Group Inc. now owns 8,086,420 shares of the basic materials company’s stock worth $1,327,612,000 after acquiring an additional 241,081 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Franco-Nevada by 35.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock valued at $528,289,000 after purchasing an additional 838,853 shares in the last quarter. Norges Bank purchased a new stake in shares of Franco-Nevada during the 2nd quarter worth $460,218,000. TD Asset Management Inc grew its stake in shares of Franco-Nevada by 4.4% during the second quarter. TD Asset Management Inc now owns 2,011,787 shares of the basic materials company’s stock worth $329,626,000 after purchasing an additional 85,117 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Franco-Nevada by 1.7% in the first quarter. The Manufacturers Life Insurance Company now owns 1,980,772 shares of the basic materials company’s stock valued at $313,071,000 after buying an additional 33,044 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FNV has been the subject of a number of recent analyst reports. Scotiabank lifted their price target on Franco-Nevada from $184.00 to $225.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. HC Wainwright boosted their target price on Franco-Nevada from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. UBS Group increased their price target on shares of Franco-Nevada from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Franco-Nevada in a report on Tuesday, November 25th. Finally, Bank of America upped their target price on shares of Franco-Nevada from $211.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.86.

Franco-Nevada Stock Up 0.1%

Shares of FNV stock opened at $202.98 on Friday. The stock’s 50-day moving average price is $201.30 and its 200 day moving average price is $184.01. The stock has a market capitalization of $39.13 billion, a PE ratio of 42.55, a price-to-earnings-growth ratio of 1.57 and a beta of 0.46. Franco-Nevada Corporation has a 52-week low of $114.81 and a 52-week high of $225.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced 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 for the quarter, compared to the consensus estimate of $448.51 million. Franco-Nevada had a return on equity of 13.94% and a net margin of 59.48%.The company’s revenue was up 76.9% on a year-over-year basis. During the same period last year, the business posted $0.80 EPS. Analysts expect that Franco-Nevada Corporation will post 3.09 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, December 18th. Shareholders of record on Thursday, December 4th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, December 4th. Franco-Nevada’s payout ratio is currently 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.