Fiera Capital Corp Lowers Position in Franco-Nevada Corporation $FNV

Fiera Capital Corp cut its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 9.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 359,750 shares of the basic materials company’s stock after selling 37,600 shares during the quarter. Fiera Capital Corp owned 0.19% of Franco-Nevada worth $74,595,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake 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 last quarter. Burkett Financial Services LLC purchased a new stake in shares of Franco-Nevada in the third quarter worth approximately $28,000. Private Trust Co. NA purchased a new stake in shares of Franco-Nevada in the fourth quarter worth approximately $29,000. Smartleaf Asset Management LLC raised its stake 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 last quarter. Finally, Navalign LLC purchased a new stake in shares of Franco-Nevada in the fourth quarter worth approximately $34,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Trading Down 0.1%

Shares of FNV opened at $218.43 on Monday. The company has a market capitalization of $42.13 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 1.91 and a beta of 0.34. The stock has a 50 day moving average of $239.79 and a 200 day moving average of $235.55. Franco-Nevada Corporation has a 12 month low of $152.89 and a 12 month high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.29. The company had revenue of $650.70 million during the quarter, compared to the consensus estimate of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.Franco-Nevada’s revenue was up 76.6% on a year-over-year basis. During the same period last year, the business posted $1.07 earnings per share. As a group, equities research analysts predict that Franco-Nevada Corporation will post 8.85 earnings per share for the current year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 11th. Franco-Nevada’s dividend payout ratio (DPR) is presently 24.79%.

Analysts Set New Price Targets

FNV has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $305.00 price objective on shares of Franco-Nevada in a research note on Wednesday, May 13th. Wall Street Zen downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings raised Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, March 20th. Zacks Research downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and decreased their price target for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.00.

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.