Marathon Asset Management Ltd Sells 18,197 Shares of Franco-Nevada Corporation $FNV

Marathon Asset Management Ltd reduced its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 5.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 306,723 shares of the basic materials company’s stock after selling 18,197 shares during the period. Franco-Nevada comprises approximately 2.5% of Marathon Asset Management Ltd’s portfolio, making the stock its 11th biggest holding. Marathon Asset Management Ltd owned about 0.16% of Franco-Nevada worth $68,288,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Jump Financial LLC purchased a new position in Franco-Nevada in the 1st quarter worth $274,000. Northern Trust Corp grew its stake in shares of Franco-Nevada by 12.8% during the first quarter. Northern Trust Corp now owns 172,675 shares of the basic materials company’s stock valued at $27,207,000 after buying an additional 19,580 shares during the last quarter. Markel Group Inc. increased its holdings in shares of Franco-Nevada by 8.4% in the second quarter. Markel Group Inc. now owns 569,500 shares of the basic materials company’s stock worth $93,352,000 after buying an additional 44,250 shares during the period. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Franco-Nevada by 24.0% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 22,758 shares of the basic materials company’s stock valued at $3,586,000 after acquiring an additional 4,408 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC boosted its holdings in Franco-Nevada by 2.6% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 1,043,546 shares of the basic materials company’s stock valued at $171,058,000 after acquiring an additional 26,772 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Up 0.8%

NYSE:FNV opened at $217.46 on Monday. The firm’s fifty day simple moving average is $200.16 and its 200 day simple moving average is $188.98. The stock has a market cap of $41.92 billion, a P/E ratio of 45.59, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45. Franco-Nevada Corporation has a twelve month low of $115.79 and a twelve month high of $225.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.37 by $0.06. The business had revenue of $487.70 million during the quarter, compared to analyst estimates of $448.51 million. Franco-Nevada had a net margin of 59.48% and a return on equity of 13.94%. The company’s revenue for the quarter was up 76.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. On average, analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, December 4th. Franco-Nevada’s payout ratio is presently 31.87%.

Analyst Ratings Changes

A number of equities analysts have commented on FNV shares. UBS Group lifted their price target on Franco-Nevada from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, December 1st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a research note on Sunday, December 7th. TD Securities lowered their price target on shares of Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Raymond James Financial boosted their price objective on shares of Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $232.75.

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.