Franco-Nevada Corporation $FNV Stock Holdings Trimmed by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors reduced its Franco-Nevada stake by 8.4% in the first quarter, selling 22,193 shares and retaining 242,998 shares valued at approximately $60 million. Institutional investors collectively own 77.06% of the company.
• Analyst sentiment remains positive overall, with 11 Buy ratings, three Holds and one Sell; the stock has a MarketBeat consensus rating of Moderate Buy and an average price target of $273.40.
• Franco-Nevada exceeded quarterly expectations, reporting EPS of $2.38 versus the $2.09 consensus and revenue of $650.7 million, up 76.6% year over year. The company also maintains a quarterly dividend of $0.44, equivalent to a 0.8% annual yield.

Dimensional Fund Advisors LP lowered its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 8.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,998 shares of the basic materials company's stock after selling 22,193 shares during the quarter. Dimensional Fund Advisors LP owned about 0.13% of Franco-Nevada worth $59,980,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. PFG Investments LLC increased its holdings in shares of Franco-Nevada by 0.6% in the 4th quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company's stock valued at $1,484,000 after acquiring an additional 46 shares during the last quarter. Composition Wealth LLC increased its stake in Franco-Nevada by 0.8% during the fourth quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company's stock valued at $1,266,000 after purchasing an additional 49 shares during the last quarter. Clark Capital Management Group Inc. lifted its position in shares of Franco-Nevada by 1.0% in the 4th quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company's stock worth $1,048,000 after buying an additional 50 shares during the last quarter. Syon Capital LLC boosted its holdings in shares of Franco-Nevada by 2.1% in the 4th quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company's stock valued at $506,000 after buying an additional 51 shares during the period. Finally, Guardian Partners Inc. grew its position in shares of Franco-Nevada by 3.2% during the 4th quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company's stock valued at $351,000 after buying an additional 52 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FNV. TD Cowen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating and cut their target price for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. Zacks Research cut Franco-Nevada from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Bank of America cut their price target on Franco-Nevada from $276.00 to $238.00 and set a "neutral" rating on the stock in a report on Thursday, July 9th. National Bank Financial upgraded Franco-Nevada from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen cut Franco-Nevada from a "buy" rating to a "hold" rating in a research note on Monday, June 1st. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $273.40.

Franco-Nevada Price Performance

FNV opened at $212.88 on Friday. The stock's 50 day moving average price is $215.05 and its 200 day moving average price is $236.28. The stock has a market cap of $41.06 billion, a P/E ratio of 29.98, a P/E/G ratio of 1.80 and a beta of 0.36. Franco-Nevada Corporation has a 12 month low of $158.26 and a 12 month high of $285.67.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping 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 firm's quarterly revenue was up 76.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 EPS. Equities analysts anticipate that Franco-Nevada Corporation will post 8.23 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, June 11th. Franco-Nevada's dividend payout ratio is currently 24.79%.

Franco-Nevada Company 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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