Franco-Nevada Co. (NYSE:FNV) Shares Sold by Centerstone Investors LLC

Centerstone Investors LLC lessened its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 6.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 50,526 shares of the basic materials company’s stock after selling 3,379 shares during the quarter. Franco-Nevada comprises approximately 5.8% of Centerstone Investors LLC’s holdings, making the stock its 4th largest position. Centerstone Investors LLC’s holdings in Franco-Nevada were worth $6,276,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FNV. Massachusetts Financial Services Co. MA lifted its holdings in shares of Franco-Nevada by 0.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock valued at $1,456,208,000 after purchasing an additional 64,429 shares during the last quarter. Van ECK Associates Corp lifted its stake in Franco-Nevada by 1.8% during the second quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock valued at $1,022,452,000 after buying an additional 151,566 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Franco-Nevada by 13.9% in the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after buying an additional 424,810 shares during the period. EdgePoint Investment Group Inc. increased its position in shares of Franco-Nevada by 19.4% in the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after acquiring an additional 537,047 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of Franco-Nevada by 1.5% during the second quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company’s stock valued at $386,597,000 after acquiring an additional 47,311 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

Shares of FNV traded down $2.76 during mid-day trading on Thursday, hitting $121.69. The company’s stock had a trading volume of 36,397 shares, compared to its average volume of 661,889. The stock’s 50-day moving average is $125.10 and its two-hundred day moving average is $123.53. The firm has a market capitalization of $23.42 billion, a PE ratio of -39.38 and a beta of 0.72. Franco-Nevada Co. has a one year low of $103.33 and a one year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The business had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm’s quarterly revenue was down 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. Analysts expect that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s payout ratio is -45.57%.

Wall Street Analysts Forecast Growth

FNV has been the topic of several recent analyst reports. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Scotiabank decreased their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, UBS Group initiated coverage on Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $152.83.

About Franco-Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.