Ashford Capital Management Inc. Has $20.16 Million Stock Holdings in Franco-Nevada Corporation $FNV

Ashford Capital Management Inc. trimmed its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 9.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,621 shares of the basic materials company’s stock after selling 8,236 shares during the period. Franco-Nevada comprises about 2.5% of Ashford Capital Management Inc.’s holdings, making the stock its 12th biggest holding. Ashford Capital Management Inc.’s holdings in Franco-Nevada were worth $20,164,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in Franco-Nevada by 112.3% during the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after buying an additional 64 shares in the last quarter. Transamerica Financial Advisors LLC purchased a new position in shares of Franco-Nevada in the fourth quarter worth approximately $25,000. Private Trust Co. NA purchased a new position in shares of Franco-Nevada in the fourth quarter worth approximately $29,000. Ascentis Independent Advisors purchased a new position in shares of Franco-Nevada in the first quarter worth approximately $39,000. Finally, Navalign LLC acquired a new stake in shares of Franco-Nevada during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Price Performance

NYSE FNV opened at $214.25 on Tuesday. The company has a 50 day simple moving average of $215.85 and a 200-day simple moving average of $236.63. The firm has a market capitalization of $41.32 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 1.81 and a beta of 0.36. Franco-Nevada Corporation has a 52-week low of $157.18 and a 52-week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.09 by $0.29. The business had revenue of $650.70 million during the quarter, compared to analysts’ expectations of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The firm’s quarterly revenue was up 76.6% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. On average, analysts predict that Franco-Nevada Corporation will post 8.23 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, June 11th. Franco-Nevada’s payout ratio is currently 24.79%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FNV shares. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective for the company in a research note on Wednesday, May 20th. Jefferies Financial Group cut their target price on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. HC Wainwright reaffirmed a “buy” rating and issued a $305.00 target price on shares of Franco-Nevada in a research report on Wednesday, May 13th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.40.

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.