Capital International Sarl Sells 7,910 Shares of Franco-Nevada Corporation $FNV

Capital International Sarl lowered its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 38.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,807 shares of the basic materials company’s stock after selling 7,910 shares during the period. Capital International Sarl’s holdings in Franco-Nevada were worth $2,658,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of FNV. GAMMA Investing LLC increased its position in shares of Franco-Nevada by 112.3% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 64 shares during the period. Burkett Financial Services LLC bought a new position in shares of Franco-Nevada in the third quarter worth $28,000. Private Trust Co. NA bought a new position in shares of Franco-Nevada in the fourth quarter worth $29,000. Smartleaf Asset Management LLC increased its position in shares of Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares during the period. Finally, Navalign LLC bought a new position in shares of Franco-Nevada in the fourth quarter worth $34,000. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 0.1%

Franco-Nevada stock opened at $218.43 on Monday. Franco-Nevada Corporation has a 12-month low of $152.89 and a 12-month high of $285.67. The business’s 50-day moving average price is $239.79 and its two-hundred day moving average price is $235.55. The stock has a market cap of $42.13 billion, a PE ratio of 30.76, a P/E/G ratio of 1.91 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $634.43 million. During the same quarter in the previous year, the business posted $1.07 earnings per share. The business’s revenue for the quarter was up 76.6% on a year-over-year basis. As a group, analysts expect that Franco-Nevada Corporation will post 8.85 earnings per share for the current year.

Franco-Nevada Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on FNV shares. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target on the stock in a research report on Wednesday, May 20th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 13th. TD upgraded Franco-Nevada from a “hold” rating to a “buy” rating and decreased their price target for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. Finally, Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus price target of $271.00.

Franco-Nevada 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.