Franco-Nevada Corporation $FNV Shares Sold by Centerstone Investors LLC

Key Points

• Centerstone Investors LLC significantly reduced its stake in Franco-Nevada Corporation by 78.6%, now holding 10,812 shares valued at approximately $1.70 million.
• Several institutional investors, including Tower Research and Northern Trust Corp, have increased their stakes in Franco-Nevada, reflecting strong interest in the stock.
• Franco-Nevada recently reported earnings of $1.24 per share, exceeding estimates and showcasing a 42% increase in revenue compared to the previous year.

Centerstone Investors LLC cut its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 78.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,812 shares of the basic materials company's stock after selling 39,714 shares during the quarter. Franco-Nevada comprises approximately 4.0% of Centerstone Investors LLC's holdings, making the stock its 5th largest holding. Centerstone Investors LLC's holdings in Franco-Nevada were worth $1,704,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its position in Franco-Nevada by 1.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company's stock worth $1,923,400,000 after buying an additional 207,232 shares during the last quarter. Vanguard Group Inc. lifted its position in Franco-Nevada by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,845,339 shares of the basic materials company's stock worth $1,233,891,000 after buying an additional 45,924 shares during the last quarter. EdgePoint Investment Group Inc. lifted its position in 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 worth $582,100,000 after buying an additional 1,650,358 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Franco-Nevada by 1.7% in the first quarter. The Manufacturers Life Insurance Company now owns 1,980,772 shares of the basic materials company's stock worth $313,071,000 after buying an additional 33,044 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in Franco-Nevada by 6.8% in the first quarter. TD Asset Management Inc now owns 1,926,670 shares of the basic materials company's stock worth $302,979,000 after buying an additional 122,071 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

FNV traded up $3.89 on Monday, hitting $197.68. The company had a trading volume of 812,274 shares, compared to its average volume of 819,280. The stock has a fifty day moving average price of $170.49 and a 200-day moving average price of $163.85. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $198.24. The stock has a market capitalization of $38.09 billion, a price-to-earnings ratio of 48.57, a P/E/G ratio of 2.59 and a beta of 0.41.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.14. The business had revenue of $369.40 million during the quarter, compared to the consensus estimate of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The company's quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. Analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 11th. Franco-Nevada's dividend payout ratio (DPR) is currently 37.35%.

Analyst Ratings Changes

FNV has been the subject of a number of analyst reports. Scotiabank raised their price target on Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 12th. Zacks Research lowered Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. TD Securities increased their target price on Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a research note on Tuesday, August 12th. Wall Street Zen lowered Franco-Nevada from a "buy" rating to a "hold" rating in a research note on Friday. Finally, CIBC reiterated an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $178.88.

Franco-Nevada 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.