Franco-Nevada Corporation $FNV Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Franco-Nevada Corporation by 9.3%, bringing its holdings to 95,447 shares, valued at approximately $15 million at the end of the reporting period.
• Franco-Nevada's recent earnings report showed $1.24 earnings per share (EPS), surpassing estimates, while revenues reached $369.4 million, slightly below analyst expectations.
• The company declared a quarterly dividend of $0.38 per share, with a dividend yield of 0.8% and a payout ratio of 37.35%.

Wellington Management Group LLP lowered its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 9.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,447 shares of the basic materials company's stock after selling 9,778 shares during the quarter. Wellington Management Group LLP's holdings in Franco-Nevada were worth $15,010,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of FNV. CX Institutional acquired a new position in shares of Franco-Nevada in the first quarter worth about $30,000. Cullen Frost Bankers Inc. acquired a new position in shares of Franco-Nevada in the first quarter worth about $32,000. Nexus Investment Management ULC acquired a new position in shares of Franco-Nevada in the first quarter worth about $35,000. Hexagon Capital Partners LLC lifted its stake in shares of Franco-Nevada by 494.7% in the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock worth $36,000 after acquiring an additional 188 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in shares of Franco-Nevada by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock worth $36,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on FNV. Royal Bank Of Canada boosted their price target on Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Raymond James Financial lifted their price target on Franco-Nevada from $186.00 to $188.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Scotiabank lifted their price target on Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 12th. Finally, TD Securities upped their price objective on Franco-Nevada from $182.00 to $184.00 and gave the company a "hold" rating in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $178.88.

Franco-Nevada Stock Up 2.3%

Franco-Nevada stock traded up $4.21 during trading hours on Monday, hitting $188.67. 507,316 shares of the company traded hands, compared to its average volume of 653,849. The firm has a market cap of $36.36 billion, a P/E ratio of 46.36, a P/E/G ratio of 2.51 and a beta of 0.41. The firm's 50-day simple moving average is $168.28 and its two-hundred day simple moving average is $162.42. Franco-Nevada Corporation has a 1-year low of $112.70 and a 1-year high of $189.00.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.10 by $0.14. The firm had revenue of $369.40 million for 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%. Franco-Nevada's quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS. On average, equities research analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

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

Franco-Nevada Company 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.