BLI Banque de Luxembourg Investments Cuts Holdings in Franco-Nevada Corporation $FNV

BLI Banque de Luxembourg Investments reduced its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 8.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 257,495 shares of the basic materials company’s stock after selling 23,200 shares during the period. Franco-Nevada accounts for about 1.6% of BLI Banque de Luxembourg Investments’ holdings, making the stock its 15th largest holding. BLI Banque de Luxembourg Investments’ holdings in Franco-Nevada were worth $53,486,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in Franco-Nevada in the fourth quarter valued at about $578,577,000. First Eagle Investment Management LLC raised its position in Franco-Nevada by 26.5% in the fourth quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock valued at $1,062,037,000 after purchasing an additional 1,074,257 shares during the period. Mackenzie Financial Corp raised its position in Franco-Nevada by 76.0% in the third quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company’s stock valued at $525,925,000 after purchasing an additional 1,020,509 shares during the period. Capital Research Global Investors raised its position in Franco-Nevada by 100.2% in the fourth quarter. Capital Research Global Investors now owns 1,277,889 shares of the basic materials company’s stock valued at $264,882,000 after purchasing an additional 639,493 shares during the period. Finally, Bank of Montreal Can raised its position in Franco-Nevada by 8.9% in the third quarter. Bank of Montreal Can now owns 5,560,980 shares of the basic materials company’s stock valued at $1,237,510,000 after purchasing an additional 454,175 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Performance

NYSE:FNV opened at $214.70 on Tuesday. The company has a market capitalization of $41.41 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 1.91 and a beta of 0.34. Franco-Nevada Corporation has a one year low of $152.89 and a one year high of $285.67. The stock has a 50-day simple moving average of $239.53 and a 200 day simple moving average of $235.68.

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 analysts’ consensus estimates of $2.09 by $0.29. The business 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%.The company’s revenue for the quarter was up 76.6% compared to the same quarter last year. During the same period last year, the firm earned $1.07 earnings per share. On average, equities research analysts forecast that Franco-Nevada Corporation will post 8.85 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be paid 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 dividend payout ratio (DPR) is 24.79%.

Wall Street Analyst Weigh In

FNV has been the topic of several research reports. Weiss Ratings raised Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, March 20th. Scotiabank raised their price objective on Franco-Nevada from $286.00 to $290.00 and gave the company a “sector perform” rating in a research report on Thursday, May 14th. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective on the stock in a research report on Wednesday, May 20th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and cut their price objective for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Finally, Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average target price 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.