Franco-Nevada Corporation $FNV Stock: Louisbourg Investments Inc. Trims Holdings

Key Points

• Louisbourg Investments cut its Franco-Nevada position by 28.4% in the third quarter, selling 7,478 shares and retaining 18,885 shares valued at approximately $4.51 million. Institutional investors collectively own 77.06% of the company.
• Franco-Nevada reported quarterly earnings of $1.81 per share, below the $1.95 analyst consensus, while revenue of $580.9 million also missed expectations but rose 57.3% year over year.
• The company paid a quarterly dividend of $0.44 per share, equivalent to an annualized $1.76 and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $267.80, compared with a stock price of $240.88.

Louisbourg Investments Inc. decreased its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 28.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,885 shares of the basic materials company's stock after selling 7,478 shares during the quarter. Louisbourg Investments Inc.'s holdings in Franco-Nevada were worth $4,510,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. PFG Investments LLC increased its stake in Franco-Nevada by 0.7% in the 1st quarter. PFG Investments LLC now owns 7,211 shares of the basic materials company's stock valued at $1,782,000 after purchasing an additional 52 shares in the last quarter. Parallel Advisors LLC raised its holdings in Franco-Nevada by 2.1% during the first quarter. Parallel Advisors LLC now owns 2,605 shares of the basic materials company's stock worth $644,000 after purchasing an additional 53 shares during the last quarter. Ritholtz Wealth Management boosted its position in Franco-Nevada by 4.2% during the first quarter. Ritholtz Wealth Management now owns 1,572 shares of the basic materials company's stock worth $388,000 after purchasing an additional 64 shares in the last quarter. Legacy Financial Advisors Inc. boosted its position in Franco-Nevada by 6.8% during the second quarter. Legacy Financial Advisors Inc. now owns 1,008 shares of the basic materials company's stock worth $210,000 after purchasing an additional 64 shares in the last quarter. Finally, Fermata Advisors LLC boosted its position in Franco-Nevada by 7.1% during the second quarter. Fermata Advisors LLC now owns 1,020 shares of the basic materials company's stock worth $213,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Franco-Nevada Price Performance

FNV stock opened at $240.88 on Wednesday. The company's 50 day simple moving average is $253.36 and its 200-day simple moving average is $236.21. The firm has a market capitalization of $46.46 billion, a PE ratio of 31.49, a P/E/G ratio of 2.78 and a beta of 0.36. Franco-Nevada Corporation has a 12 month low of $181.50 and a 12 month high of $285.67.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%. The business had revenue of $580.90 million for the quarter, compared to analysts' expectations of $616.66 million. During the same period last year, the business earned $1.24 earnings per share. The company's revenue for the quarter was up 57.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Franco-Nevada Corporation will post 7.47 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, September 10th. Franco-Nevada's dividend payout ratio is 23.01%.

Wall Street Analyst Weigh In

Several analysts have weighed in on FNV shares. UBS Group lowered their target price on Franco-Nevada from $310.00 to $280.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Zacks Research upgraded Franco-Nevada from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Scotiabank cut their price target on Franco-Nevada from $290.00 to $274.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. Royal Bank Of Canada lifted their price target on Franco-Nevada from $285.00 to $300.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 16th. Finally, Weiss Ratings upgraded shares of Franco-Nevada from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $267.80.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from their assets. Its portfolio includes royalties, streams and other interests tied primarily to gold, as well as silver, platinum group metals, base metals and energy assets.

The company's business model provides exposure to commodity production while generally limiting its direct responsibility for mine development, operating costs and capital expenditures.

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