Annex Advisory Services LLC Sells 2,703 Shares of Franco-Nevada Corporation $FNV

Key Points

• Annex Advisory Services LLC has reduced its holdings in Franco-Nevada Corporation by 1.5% during the second quarter, now owning 0.09% of the company, valued at approximately $29.57 million.
• Franco-Nevada reported a 42.0% increase in revenue year-over-year, posting $1.24 EPS for the quarter, surpassing analyst expectations.
• The company declared a quarterly dividend of $0.38 per share, with a dividend yield of 0.7%, set to be paid on September 25th.

Annex Advisory Services LLC cut its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,403 shares of the basic materials company's stock after selling 2,703 shares during the period. Annex Advisory Services LLC owned approximately 0.09% of Franco-Nevada worth $29,572,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. CX Institutional bought a new stake in Franco-Nevada in the 1st quarter valued at $30,000. Cullen Frost Bankers Inc. bought a new stake in Franco-Nevada in the 1st quarter valued at $32,000. Nexus Investment Management ULC bought a new stake in Franco-Nevada in the 1st quarter valued at $35,000. Hexagon Capital Partners LLC boosted its holdings in Franco-Nevada by 494.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 188 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in Franco-Nevada by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 115 shares during the period. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Performance

FNV traded down $0.95 during midday trading on Tuesday, hitting $213.22. The company had a trading volume of 422,666 shares, compared to its average volume of 822,414. The company has a market capitalization of $41.09 billion, a PE ratio of 52.33, a P/E/G ratio of 2.81 and a beta of 0.41. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $218.58. The firm's 50-day simple moving average is $179.47 and its 200-day simple moving average is $168.56.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.14. The firm had revenue of $369.40 million during the quarter, compared to analysts' expectations of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The company's quarterly revenue was up 42.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 EPS. As a group, sell-side analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, September 11th. Franco-Nevada's dividend payout ratio (DPR) is presently 37.35%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FNV. BMO Capital Markets reissued an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. CIBC restated an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. TD Securities increased their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a "hold" rating in a research note on Tuesday, August 12th. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. Finally, Raymond James Financial increased their price objective on shares of Franco-Nevada from $203.00 to $218.00 and gave the company an "outperform" rating in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Franco-Nevada has an average rating of "Moderate Buy" and a consensus price target of $187.63.

Franco-Nevada Company Profile

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.