Altfest L J & Co. Inc. Reduces Stock Position in Franco-Nevada Corporation $FNV

Key Points

• Altfest L J & Co. Inc. cut its stake in Franco‑Nevada by 55.7% in Q4, selling 4,210 shares and retaining 3,346 shares valued at about $693,000.
• Franco‑Nevada beat estimates with Q earnings of $1.85 EPS and $597.3M revenue, with revenue up 86.1% year‑over‑year.
• Analysts are mixed but the consensus is a Moderate Buy with a $257.25 price target, and institutional investors hold roughly 77% of the stock.

Altfest L J & Co. Inc. lessened its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 55.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,346 shares of the basic materials company's stock after selling 4,210 shares during the quarter. Altfest L J & Co. Inc.'s holdings in Franco-Nevada were worth $693,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its stake in Franco-Nevada by 16.0% during the 4th quarter. Apollon Wealth Management LLC now owns 2,240 shares of the basic materials company's stock valued at $464,000 after purchasing an additional 309 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in Franco-Nevada during the 4th quarter valued at about $402,000. Addenda Capital Inc. grew its stake in Franco-Nevada by 88.1% during the 4th quarter. Addenda Capital Inc. now owns 203,643 shares of the basic materials company's stock valued at $42,211,000 after purchasing an additional 95,405 shares during the last quarter. Rathbones Group PLC grew its stake in Franco-Nevada by 107.0% during the 4th quarter. Rathbones Group PLC now owns 2,871 shares of the basic materials company's stock valued at $596,000 after purchasing an additional 1,484 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Franco-Nevada by 3.9% during the 4th quarter. Signaturefd LLC now owns 3,566 shares of the basic materials company's stock valued at $739,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FNV shares. Scotiabank upped their target price on Franco-Nevada from $283.00 to $286.00 and gave the stock a "sector perform" rating in a research note on Monday, March 16th. HC Wainwright upped their target price on Franco-Nevada from $285.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, March 12th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. UBS Group restated a "buy" rating and issued a $310.00 target price on shares of Franco-Nevada in a research note on Friday, January 30th. Finally, Canaccord Genuity Group downgraded Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 23rd. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, Franco-Nevada presently has a consensus rating of "Moderate Buy" and a consensus price target of $257.25.

Franco-Nevada Trading Down 0.1%

Shares of FNV stock opened at $261.39 on Monday. The company has a market capitalization of $50.40 billion, a P/E ratio of 45.38, a P/E/G ratio of 2.80 and a beta of 0.47. The business's 50 day moving average is $252.14 and its two-hundred day moving average is $226.34. Franco-Nevada Corporation has a 12-month low of $152.89 and a 12-month high of $285.67.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.67 by $0.18. The company had revenue of $597.30 million for the quarter, compared to the consensus estimate of $542.02 million. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.Franco-Nevada's revenue for the quarter was up 86.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 earnings per share. On average, research analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

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.

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