Arrowstreet Capital Limited Partnership Has $440.86 Million Holdings in Franco-Nevada Corporation $FNV

Arrowstreet Capital Limited Partnership cut its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 24.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,782,913 shares of the basic materials company's stock after selling 582,284 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.92% of Franco-Nevada worth $440,861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of Franco-Nevada by 112.3% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company's stock valued at $25,000 after buying an additional 64 shares during the period. Transamerica Financial Advisors LLC bought a new position in Franco-Nevada during the fourth quarter valued at about $25,000. Private Trust Co. NA acquired a new position in Franco-Nevada in the 4th quarter valued at approximately $29,000. Ascentis Independent Advisors bought a new stake in shares of Franco-Nevada in the 1st quarter worth approximately $39,000. Finally, Navalign LLC bought a new stake in shares of Franco-Nevada in the 4th quarter worth approximately $34,000. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Up 0.0%

Shares of FNV stock opened at $214.16 on Friday. Franco-Nevada Corporation has a 12-month low of $157.18 and a 12-month high of $285.67. The company has a market capitalization of $41.30 billion, a P/E ratio of 30.16, a P/E/G ratio of 1.81 and a beta of 0.36. The firm has a 50-day moving average price of $216.29 and a 200 day moving average price of $236.64.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.29. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The firm had revenue of $650.70 million for the quarter, compared to analysts' expectations of $634.43 million. During the same period in the prior year, the firm earned $1.07 earnings per share. The company's quarterly revenue was up 76.6% compared to the same quarter last year. As a group, research analysts expect that Franco-Nevada Corporation will post 8.23 earnings per share for the current year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 11th. Franco-Nevada's payout ratio is currently 24.79%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FNV. Wall Street Zen downgraded shares of Franco-Nevada from a "buy" rating to a "hold" rating in a research note on Monday, June 1st. Royal Bank Of Canada reduced their price objective on shares of Franco-Nevada from $295.00 to $285.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. National Bank Financial upgraded shares of Franco-Nevada from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, May 13th. Zacks Research cut shares of Franco-Nevada from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Finally, Scotiabank dropped their price target on shares of Franco-Nevada from $290.00 to $274.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $273.40.

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.

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