Hillsdale Investment Management Inc. Sells 12,953 Shares of Franco-Nevada Corporation $FNV

Hillsdale Investment Management Inc. trimmed its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 36.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,940 shares of the basic materials company’s stock after selling 12,953 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Franco-Nevada were worth $4,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First Eagle Investment Management LLC raised its holdings in Franco-Nevada by 26.5% in the 4th quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock worth $1,062,037,000 after purchasing an additional 1,074,257 shares during the period. Mackenzie Financial Corp raised its holdings in Franco-Nevada by 76.0% in the 3rd quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company’s stock worth $525,925,000 after purchasing an additional 1,020,509 shares during the period. Bank of Montreal Can raised its holdings in Franco-Nevada by 8.9% in the 3rd quarter. Bank of Montreal Can now owns 5,560,980 shares of the basic materials company’s stock worth $1,237,510,000 after purchasing an additional 454,175 shares during the period. Geode Capital Management LLC raised its holdings in Franco-Nevada by 11.4% in the 4th quarter. Geode Capital Management LLC now owns 1,932,148 shares of the basic materials company’s stock worth $412,395,000 after purchasing an additional 197,567 shares during the period. Finally, Carrhae Capital LLP raised its holdings in Franco-Nevada by 162.2% in the 4th quarter. Carrhae Capital LLP now owns 293,772 shares of the basic materials company’s stock worth $60,893,000 after purchasing an additional 181,718 shares during the period. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $230.82 on Friday. Franco-Nevada Corporation has a 52-week low of $152.89 and a 52-week high of $285.67. The firm has a market capitalization of $44.52 billion, a PE ratio of 32.51, a PEG ratio of 2.01 and a beta of 0.34. The stock has a fifty day simple moving average of $239.70 and a two-hundred day simple moving average of $234.11.

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, topping analysts’ consensus estimates of $2.09 by $0.29. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business had revenue of $650.70 million during the quarter, compared to analyst estimates of $634.43 million. During the same quarter in the prior year, the business posted $1.07 EPS. Franco-Nevada’s revenue for the quarter was up 76.6% compared to the same quarter last year. On average, sell-side analysts forecast that Franco-Nevada Corporation will post 8.85 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders 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 is presently 24.79%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FNV shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, February 4th. Weiss Ratings raised Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, March 20th. Scotiabank raised their target price on Franco-Nevada from $286.00 to $290.00 and gave the stock a “sector perform” rating in a report on Thursday, May 14th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. Finally, 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 report on Wednesday, May 20th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.