Ashford Capital Management Inc. Cuts Stake in Franco-Nevada Corporation $FNV

Key Points

• Ashford Capital Management Inc. has reduced its stake in Franco-Nevada Corporation by 4.4%, now holding 147,964 shares, which makes up 3.0% of its investment portfolio, ranking it as the 10th largest holding.
• Franco-Nevada recently announced a quarterly dividend of $0.38, with dividends set to be paid on September 25th, providing an annualized dividend yield of 0.8%.
• The company reported a quarterly earnings per share of $1.24, exceeding expectations, while achieving a revenue of $369.40 million, which reflects a year-over-year growth of 42.0%.

Ashford Capital Management Inc. decreased its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 147,964 shares of the basic materials company's stock after selling 6,880 shares during the quarter. Franco-Nevada makes up about 3.0% of Ashford Capital Management Inc.'s holdings, making the stock its 10th biggest position. Ashford Capital Management Inc. owned approximately 0.08% of Franco-Nevada worth $23,313,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CX Institutional acquired a new position in Franco-Nevada in the 1st quarter valued at $30,000. Cullen Frost Bankers Inc. acquired a new position in Franco-Nevada in the 1st quarter valued at $32,000. Nexus Investment Management ULC acquired a new position in Franco-Nevada in the 1st quarter valued at $35,000. Golden State Wealth Management LLC grew its stake in Franco-Nevada by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after buying an additional 115 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in Franco-Nevada by 494.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after buying an additional 188 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FNV shares. Zacks Research lowered shares of Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. Royal Bank Of Canada raised their target price on shares of Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Scotiabank increased their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a "sector perform" rating in a report on Tuesday, August 12th. Finally, Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Sunday, August 24th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $178.88.

Franco-Nevada Stock Down 0.1%

NYSE FNV traded down $0.24 during trading on Thursday, reaching $189.76. 264,030 shares of the stock traded hands, compared to its average volume of 818,520. The firm has a market cap of $36.57 billion, a price-to-earnings ratio of 46.67, a price-to-earnings-growth ratio of 2.51 and a beta of 0.41. The stock's 50-day moving average price is $169.33 and its 200 day moving average price is $162.81. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $192.04.

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

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada's payout ratio is currently 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.