Franco-Nevada Corporation $FNV Stock Holdings Lessened by America First Investment Advisors LLC

Key Points

• America First Investment Advisors cut its Franco-Nevada stake by 7.3% in the fourth quarter, selling 11,496 shares and leaving it with 146,440 shares valued at about $30.35 million.
• Franco-Nevada posted strong quarterly results, with EPS of $2.38 topping estimates of $2.09 and revenue rising 76.6% year over year to $650.7 million.
• Analyst sentiment remains positive, with 12 Buy ratings and 4 Hold ratings; the consensus view is a Moderate Buy with a $271 target price, above the recent $225.75 share price.

America First Investment Advisors LLC reduced its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,440 shares of the basic materials company's stock after selling 11,496 shares during the quarter. Franco-Nevada comprises approximately 5.5% of America First Investment Advisors LLC's portfolio, making the stock its 5th biggest holding. America First Investment Advisors LLC owned approximately 0.08% of Franco-Nevada worth $30,354,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FNV. First Eagle Investment Management LLC increased its stake in Franco-Nevada by 26.5% in the fourth quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company's stock valued at $1,062,037,000 after purchasing an additional 1,074,257 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Franco-Nevada by 76.0% in the third quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company's stock valued at $525,925,000 after buying an additional 1,020,509 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Franco-Nevada by 8.9% in the third quarter. Bank of Montreal Can now owns 5,560,980 shares of the basic materials company's stock valued at $1,237,510,000 after buying an additional 454,175 shares in the last quarter. Carrhae Capital LLP boosted its holdings in Franco-Nevada by 162.2% in the fourth quarter. Carrhae Capital LLP now owns 293,772 shares of the basic materials company's stock valued at $60,893,000 after purchasing an additional 181,718 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Franco-Nevada by 51.4% in the third quarter. Allianz Asset Management GmbH now owns 385,898 shares of the basic materials company's stock valued at $85,913,000 after purchasing an additional 130,987 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Price Performance

Shares of FNV opened at $225.75 on Tuesday. Franco-Nevada Corporation has a fifty-two week low of $152.89 and a fifty-two week high of $285.67. The company has a market capitalization of $43.54 billion, a price-to-earnings ratio of 31.80, a P/E/G ratio of 1.95 and a beta of 0.34. The business's 50-day moving average is $241.58 and its 200-day moving average is $233.35.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued 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. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The company had revenue of $650.70 million during the quarter, compared to analyst estimates of $634.43 million. During the same quarter last year, the business posted $1.07 EPS. The company's revenue for the quarter was up 76.6% on a year-over-year basis. Equities research analysts expect that Franco-Nevada Corporation will post 8.84 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be paid a $0.44 dividend. The ex-dividend date of this dividend 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 24.79%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. National Bank Financial raised Franco-Nevada from a "sector perform" rating to an "outperform" rating in a report on Wednesday, May 13th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Wall Street Zen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Sunday. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Wednesday, April 29th. Finally, Zacks Research cut Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $271.00.

Franco-Nevada Profile

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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