Ashford Capital Management Inc. Has $18.21 Million Stake in Franco-Nevada Co. (NYSE:FNV)

Ashford Capital Management Inc. lowered its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,844 shares of the basic materials company's stock after selling 11,460 shares during the quarter. Franco-Nevada makes up about 2.1% of Ashford Capital Management Inc.'s investment portfolio, making the stock its 22nd largest holding. Ashford Capital Management Inc. owned 0.08% of Franco-Nevada worth $18,208,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FNV. Norges Bank acquired a new stake in Franco-Nevada during the 4th quarter valued at $237,643,000. EdgePoint Investment Group Inc. raised its position in shares of Franco-Nevada by 49.9% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock valued at $582,100,000 after purchasing an additional 1,650,358 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Franco-Nevada by 246.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock worth $136,796,000 after buying an additional 828,166 shares during the last quarter. Capital World Investors boosted its holdings in shares of Franco-Nevada by 9.8% during the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock worth $934,106,000 after buying an additional 711,591 shares during the period. Finally, Proficio Capital Partners LLC grew its stake in Franco-Nevada by 11,659.0% in the 4th quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company's stock valued at $56,762,000 after buying an additional 478,602 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FNV shares. HC Wainwright raised their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a research note on Wednesday, April 23rd. TD Securities lowered Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective on the stock. in a report on Tuesday, March 11th. Royal Bank of Canada lifted their target price on Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. Finally, Scotiabank boosted their target price on shares of Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $162.75.

Franco-Nevada Price Performance

NYSE FNV opened at $162.01 on Tuesday. The business has a fifty day moving average price of $160.70 and a two-hundred day moving average price of $139.86. The stock has a market capitalization of $31.20 billion, a PE ratio of -51.27, a PEG ratio of 9.78 and a beta of 0.45. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $178.74.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $368.40 million during the quarter, compared to the consensus estimate of $328.79 million. During the same period in the prior year, the company earned $0.76 EPS. Franco-Nevada's revenue for the quarter was up 43.5% on a year-over-year basis. As a group, sell-side analysts expect that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.94%. Franco-Nevada's payout ratio is currently 47.50%.

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.

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