Franco-Nevada Corporation (NYSE:FNV) Shares Sold by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC reduced its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 19.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 16,276 shares of the basic materials company's stock after selling 4,002 shares during the period. Franco-Nevada accounts for about 2.4% of Elevate Capital Advisors LLC's holdings, making the stock its 12th biggest holding. Elevate Capital Advisors LLC's holdings in Franco-Nevada were worth $2,564,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Franco-Nevada in the fourth quarter valued at $237,643,000. EdgePoint Investment Group Inc. grew its holdings in shares of Franco-Nevada by 49.9% during the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock worth $582,100,000 after buying an additional 1,650,358 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Franco-Nevada by 246.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock valued at $136,796,000 after acquiring an additional 828,166 shares during the period. Capital World Investors raised its stake in Franco-Nevada by 9.8% during the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock valued at $934,106,000 after acquiring an additional 711,591 shares during the last quarter. Finally, BLI Banque de Luxembourg Investments purchased a new stake in Franco-Nevada during the 4th quarter valued at approximately $52,857,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FNV has been the subject of several analyst reports. TD Securities cut Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target for the company. in a research note on Tuesday, March 11th. Royal Bank Of Canada lifted their price objective on shares of Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Raymond James Financial set a $186.00 price objective on shares of Franco-Nevada and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Scotiabank raised their target price on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Finally, UBS Group lifted their target price on shares of Franco-Nevada from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $172.13.

Franco-Nevada Trading Up 0.7%

Shares of FNV traded up $1.10 during trading hours on Friday, reaching $165.54. The company had a trading volume of 395,450 shares, compared to its average volume of 746,733. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $179.99. The firm has a 50 day simple moving average of $166.74 and a 200-day simple moving average of $150.34. The company has a market capitalization of $31.89 billion, a price-to-earnings ratio of 51.73, a PEG ratio of 2.26 and a beta of 0.41.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The company had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. During the same period in the prior year, the business posted $0.76 earnings per share. The firm's revenue for the quarter was up 43.5% compared to the same quarter last year. Sell-side analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.92%. The ex-dividend date was Thursday, June 12th. Franco-Nevada's payout ratio is currently 47.50%.

Franco-Nevada 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.