Franco-Nevada Corporation $FNV Shares Sold by QV Investors Inc.

QV Investors Inc. cut its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 7.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 226,560 shares of the basic materials company’s stock after selling 17,578 shares during the period. Franco-Nevada comprises approximately 3.8% of QV Investors Inc.’s holdings, making the stock its 8th largest position. QV Investors Inc. owned approximately 0.12% of Franco-Nevada worth $47,024,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FNV. GAMMA Investing LLC lifted its position in Franco-Nevada by 112.3% in the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after buying an additional 64 shares in the last quarter. Burkett Financial Services LLC purchased a new position in shares of Franco-Nevada during the 3rd quarter valued at $28,000. Stephens Consulting LLC acquired a new position in shares of Franco-Nevada in the fourth quarter worth $36,000. Smartleaf Asset Management LLC increased 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 acquiring an additional 168 shares during the last quarter. Finally, City Holding Co. purchased a new stake in shares of Franco-Nevada during the third quarter worth $56,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FNV. Scotiabank lifted their price objective on Franco-Nevada from $283.00 to $286.00 and gave the company a “sector perform” rating in a research report on Monday, March 16th. Weiss Ratings raised Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, March 20th. HC Wainwright lifted their price target on Franco-Nevada from $285.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Jefferies Financial Group reissued a “hold” rating and issued a $228.00 price target on shares of Franco-Nevada in a research note on Sunday, December 7th. Finally, Zacks Research downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and an average target price of $257.25.

Franco-Nevada Trading Up 0.0%

Shares of NYSE:FNV opened at $257.75 on Friday. The stock has a market capitalization of $49.69 billion, a PE ratio of 44.75, a P/E/G ratio of 2.76 and a beta of 0.47. Franco-Nevada Corporation has a 1 year low of $140.03 and a 1 year high of $285.67. The firm has a fifty day moving average price of $251.77 and a 200 day moving average price of $224.41.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.18. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.The company had revenue of $597.30 million for the quarter, compared to analyst estimates of $542.02 million. During the same period last year, the company earned $0.95 earnings per share. The business’s revenue was up 86.1% compared to the same quarter last year. On average, sell-side analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, March 12th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s dividend payout ratio (DPR) is 30.56%.

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.