Franco-Nevada Corporation $FNV is Mad River Investors' 10th Largest Position

Key Points

• Mad River Investors has reduced its stake in Franco-Nevada Corporation by 13.5%, now holding 24,053 shares valued at approximately $3.94 million, making it the firm's 10th largest position.
• Franco-Nevada reported $1.24 EPS for the last quarter, exceeding analyst estimates, and showed a revenue growth of 42% year-over-year.
• The company declared a quarterly dividend of $0.38 per share, with a payout ratio of 37.35%, reflecting a 0.8% dividend yield for investors.

Mad River Investors decreased its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 13.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,053 shares of the basic materials company's stock after selling 3,749 shares during the quarter. Franco-Nevada makes up about 1.8% of Mad River Investors' holdings, making the stock its 10th largest position. Mad River Investors' holdings in Franco-Nevada were worth $3,943,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CX Institutional purchased a new position in shares of Franco-Nevada during the first quarter worth about $30,000. Cullen Frost Bankers Inc. purchased a new position in shares of Franco-Nevada during the first quarter worth about $32,000. Nexus Investment Management ULC purchased a new position in shares of Franco-Nevada during the first quarter worth about $35,000. Hexagon Capital Partners LLC grew its holdings in shares of Franco-Nevada by 494.7% during the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock worth $36,000 after purchasing an additional 188 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in shares of Franco-Nevada by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock worth $36,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Performance

NYSE:FNV traded up $6.90 during mid-day trading on Friday, reaching $209.40. The stock had a trading volume of 427,130 shares, compared to its average volume of 814,525. The firm has a market capitalization of $40.35 billion, a price-to-earnings ratio of 51.43, a PEG ratio of 2.64 and a beta of 0.41. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $208.99. The business has a 50 day simple moving average of $177.28 and a 200 day simple moving average of $167.25.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 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 the consensus estimate of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The firm's revenue was up 42.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. As a group, sell-side analysts expect that Franco-Nevada Corporation 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, September 25th. Stockholders of record on Thursday, September 11th will be 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 is Thursday, September 11th. Franco-Nevada's dividend payout ratio (DPR) is presently 37.35%.

Analyst Ratings Changes

Several brokerages have issued reports on FNV. Royal Bank Of Canada raised their price objective on Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. UBS Group raised their price target on Franco-Nevada from $210.00 to $250.00 and gave the stock a "buy" rating in a report on Friday. TD Securities raised their price target on Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a report on Tuesday, August 12th. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Finally, HC Wainwright raised their price target on Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Seven 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.com, Franco-Nevada has a consensus rating of "Moderate Buy" and an average price target of $183.88.

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.