Citigroup Inc. Sells 18,686 Shares of Franco-Nevada Corporation $FNV

Key Points

• Citigroup Inc. has decreased its holdings in Franco-Nevada Corporation by 26.2%, owning 52,517 shares worth approximately $8.26 million after selling 18,686 shares in the first quarter.
• Franco-Nevada recently reported a quarterly EPS of $1.24, exceeding estimates, with a net margin of 58.82% and a revenue of $369.40 million.
• The company announced a quarterly dividend of $0.38 per share, which translates to an annual yield of 0.9%, with the ex-dividend date set for September 11th.

Citigroup Inc. lowered its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 26.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,517 shares of the basic materials company's stock after selling 18,686 shares during the quarter. Citigroup Inc.'s holdings in Franco-Nevada were worth $8,259,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 in the last quarter. Capital World Investors grew its position 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 valued at $934,106,000 after purchasing an additional 711,591 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 45,924 shares during the period. 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 worth $582,100,000 after buying an additional 1,650,358 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Franco-Nevada by 10.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,286,661 shares of the basic materials company's stock valued at $504,069,000 after buying an additional 400,384 shares during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Up 1.8%

Shares of FNV traded up $3.1860 during trading hours on Thursday, hitting $181.5260. The company had a trading volume of 536,074 shares, compared to its average volume of 710,230. The firm has a market cap of $34.98 billion, a P/E ratio of 44.60, a P/E/G ratio of 2.37 and a beta of 0.36. The stock's 50 day moving average price is $165.92 and its 200 day moving average price is $160.00. Franco-Nevada Corporation has a 52-week low of $112.70 and a 52-week high of $183.91.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.10 by $0.14. The firm had revenue of $369.40 million for 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 in the previous year, the business earned $0.75 earnings per share. On average, research analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

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

Analyst Ratings Changes

FNV has been the subject of several research analyst reports. HC Wainwright lifted their target price on shares of Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Scotiabank lifted their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 12th. CIBC reissued an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. BMO Capital Markets restated an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Finally, Raymond James Financial upped their price objective on Franco-Nevada from $186.00 to $188.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Franco-Nevada currently has an average rating of "Moderate Buy" and an average target price 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.