CWA Asset Management Group LLC Trims Position in Franco-Nevada Corporation $FNV

Key Points

• CWA Asset Management Group LLC has reduced its position in Franco-Nevada Corporation by 52.0% in the second quarter, selling 84,171 shares and now holding 77,548 shares valued at approximately $12.71 million.
• Franco-Nevada recently reported $1.24 earnings per share for the last quarter, beating analysts' estimates of $1.10, while the company’s revenue increased by 42.0% year-over-year.
• Analysts have a consensus rating of "Moderate Buy" for Franco-Nevada, with an average price target of $187.63, following several adjustments from major financial institutions.

CWA Asset Management Group LLC reduced its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 52.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,548 shares of the basic materials company's stock after selling 84,171 shares during the quarter. CWA Asset Management Group LLC's holdings in Franco-Nevada were worth $12,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in FNV. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Franco-Nevada by 198.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company's stock worth $268,280,000 after buying an additional 1,133,373 shares during the period. Scharf Investments LLC purchased a new position in shares of Franco-Nevada in the 2nd quarter worth $78,509,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Franco-Nevada by 101.1% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 672,148 shares of the basic materials company's stock worth $105,731,000 after buying an additional 337,926 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Franco-Nevada by 53.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 883,293 shares of the basic materials company's stock worth $138,945,000 after buying an additional 309,161 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Franco-Nevada by 280.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 365,812 shares of the basic materials company's stock worth $57,526,000 after buying an additional 269,730 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. 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 report on Tuesday, August 12th. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. UBS Group raised their price objective on Franco-Nevada from $210.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Raymond James Financial raised their price objective on Franco-Nevada from $203.00 to $218.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, Royal Bank Of Canada raised their price objective on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Franco-Nevada presently has a consensus rating of "Moderate Buy" and an average price target of $187.63.

Franco-Nevada Price Performance

NYSE:FNV opened at $217.45 on Friday. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $218.58. The firm has a market capitalization of $41.90 billion, a PE ratio of 53.43, a price-to-earnings-growth ratio of 2.85 and a beta of 0.41. The business's 50-day moving average is $184.13 and its two-hundred day moving average is $170.30.

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

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 11th. Franco-Nevada's payout ratio is presently 37.35%.

About Franco-Nevada

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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