Franco-Nevada Corporation $FNV Stock Holdings Cut by Intellus Advisors LLC

Key Points

• Intellus Advisors LLC cut its Franco-Nevada stake by 24% in the fourth quarter, selling 22,222 shares and leaving it with 70,495 shares valued at about $14.6 million. Franco-Nevada now makes up 1.9% of the fund’s portfolio.
• Wall Street sentiment remains mostly positive, with 12 analysts rating the stock a Buy and four a Hold. The consensus price target is $271, and several firms recently reiterated or upgraded their ratings.
• Franco-Nevada reported strong quarterly results and a dividend, posting EPS of $2.38 versus estimates of $2.09 and revenue growth of 76.6% year over year. The company also announced a quarterly dividend of $0.44 per share, payable June 25.

Intellus Advisors LLC reduced its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 24.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 70,495 shares of the basic materials company's stock after selling 22,222 shares during the quarter. Franco-Nevada comprises 1.9% of Intellus Advisors LLC's portfolio, making the stock its 21st largest holding. Intellus Advisors LLC's holdings in Franco-Nevada were worth $14,612,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PFG Investments LLC boosted its stake in Franco-Nevada by 0.6% during the 4th quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company's stock valued at $1,484,000 after purchasing an additional 46 shares in the last quarter. Composition Wealth LLC lifted its position in shares of Franco-Nevada by 0.8% during the 4th quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company's stock valued at $1,266,000 after acquiring an additional 49 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Franco-Nevada by 27.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company's stock valued at $55,000 after acquiring an additional 54 shares during the last quarter. Lafayette Investments Inc. lifted its position in shares of Franco-Nevada by 2.4% during the 3rd quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company's stock valued at $561,000 after acquiring an additional 60 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Franco-Nevada by 112.3% during the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 64 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FNV. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Zacks Research downgraded Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. HC Wainwright reiterated a "buy" rating and set a $305.00 price objective on shares of Franco-Nevada in a research report on Wednesday, May 13th. TD Securities upgraded Franco-Nevada from a "hold" rating to a "buy" rating and set a $291.00 price objective for the company in a research report on Wednesday. Finally, Weiss Ratings upgraded Franco-Nevada from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, March 20th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Franco-Nevada currently has an average rating of "Moderate Buy" and an average target price of $271.00.

Franco-Nevada Stock Up 0.2%

FNV opened at $225.75 on Friday. The stock has a fifty day moving average of $243.12 and a 200-day moving average of $232.80. The firm has a market capitalization of $43.54 billion, a P/E ratio of 31.80, a PEG ratio of 1.94 and a beta of 0.34. Franco-Nevada Corporation has a 12-month low of $152.89 and a 12-month high of $285.67.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.09 by $0.29. The company had revenue of $650.70 million during the quarter, compared to analyst estimates of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The company's revenue for the quarter was up 76.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 earnings per share. On average, analysts expect that Franco-Nevada Corporation will post 8.84 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be issued a $0.44 dividend. The ex-dividend date is Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. Franco-Nevada's dividend payout ratio is presently 24.79%.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company's business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.

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