Franco-Nevada Corporation $FNV Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 44.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,180 shares of the basic materials company’s stock after selling 92,595 shares during the quarter. Corient Private Wealth LLC’s holdings in Franco-Nevada were worth $23,774,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. PFG Investments LLC boosted its position in shares of Franco-Nevada by 0.6% during the 4th quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock valued at $1,484,000 after acquiring an additional 46 shares during the last quarter. Composition Wealth LLC lifted its holdings in shares of Franco-Nevada by 0.8% in the 4th quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock worth $1,266,000 after acquiring an additional 49 shares during the last quarter. Clark Capital Management Group Inc. boosted its position in shares of Franco-Nevada by 1.0% during the 4th quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company’s stock worth $1,048,000 after purchasing an additional 50 shares during the period. Syon Capital LLC boosted its position in shares of Franco-Nevada by 2.1% during the 4th quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 51 shares during the period. Finally, Guardian Partners Inc. increased its holdings in Franco-Nevada by 3.2% in the 4th quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company’s stock valued at $351,000 after purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

FNV has been the topic of a number of research analyst reports. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 target price on the stock in a research report on Wednesday, May 20th. Zacks Research lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. TD raised Franco-Nevada from a “hold” rating to a “buy” rating and dropped their price objective for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. TD Cowen upgraded 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 report on Wednesday, May 20th. Finally, Weiss Ratings lowered shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $271.00.

Franco-Nevada Stock Performance

Shares of FNV opened at $220.94 on Tuesday. Franco-Nevada Corporation has a fifty-two week low of $152.89 and a fifty-two week high of $285.67. The firm has a 50-day simple moving average of $232.53 and a 200-day simple moving average of $236.85. The company has a market capitalization of $42.61 billion, a price-to-earnings ratio of 31.12, a price-to-earnings-growth ratio of 1.91 and a beta of 0.34.

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

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be paid 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 is Thursday, June 11th. Franco-Nevada’s dividend payout ratio is 24.79%.

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.