Elevate Capital Advisors LLC Trims Stock Position in Franco-Nevada Corporation (NYSE:FNV)

Elevate Capital Advisors LLC reduced its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 19.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 investment portfolio, making the stock its 12th biggest position. Elevate Capital Advisors LLC's holdings in Franco-Nevada were worth $2,564,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FNV. CX Institutional purchased a new position in Franco-Nevada during the 1st quarter valued at $30,000. Nexus Investment Management ULC bought a new stake in shares of Franco-Nevada during the first quarter worth $35,000. Golden State Wealth Management LLC boosted its stake in shares of Franco-Nevada by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 115 shares during the period. Physician Wealth Advisors Inc. purchased a new stake in shares of Franco-Nevada during the fourth quarter valued at $49,000. Finally, Harbour Investments Inc. grew its holdings in shares of Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after purchasing an additional 93 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FNV. Wall Street Zen raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, April 7th. HC Wainwright restated a "buy" rating and issued a $195.00 price objective (up from $180.00) on shares of Franco-Nevada in a report on Wednesday, May 28th. Royal Bank Of Canada upped their price objective on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective on the stock. in a research report on Tuesday, March 11th. Finally, Scotiabank raised their price objective on Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $169.63.

Franco-Nevada Stock Down 0.3%

Shares of NYSE:FNV traded down $0.56 during midday trading on Tuesday, reaching $163.36. The company's stock had a trading volume of 493,091 shares, compared to its average volume of 743,617. The firm has a market capitalization of $31.47 billion, a PE ratio of 51.05, a P/E/G ratio of 2.24 and a beta of 0.42. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $179.99. The stock has a fifty day moving average of $167.26 and a 200 day moving average of $149.51.

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

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Thursday, June 12th. Franco-Nevada's dividend payout ratio (DPR) is currently 47.50%.

About Franco-Nevada

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.