Franco-Nevada Corporation (NYSE:FNV) Position Cut by Foresight Global Investors Inc.

Key Points

• Foresight Global Investors Inc. reduced its stake in Franco-Nevada Corporation by 27.3%, selling 1,500 shares, which now account for only 0.4% of their portfolio.
• Several institutional investors increased their positions in Franco-Nevada, including EdgePoint Investment Group Inc. and Capital World Investors, highlighting ongoing interest in the company's stock.
• Franco-Nevada recently reported quarterly earnings of $1.07 EPS, surpassing analyst estimates and representing a 43.5% year-over-year increase in revenue.

Foresight Global Investors Inc. lowered its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 27.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,000 shares of the basic materials company's stock after selling 1,500 shares during the quarter. Franco-Nevada comprises about 0.4% of Foresight Global Investors Inc.'s portfolio, making the stock its 12th biggest holding. Foresight Global Investors Inc.'s holdings in Franco-Nevada were worth $630,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FNV. EdgePoint Investment Group Inc. raised its position in 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 valued at $582,100,000 after acquiring an additional 1,650,358 shares in the last quarter. Capital World Investors grew its position in shares of Franco-Nevada by 9.8% in the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock valued at $934,106,000 after purchasing an additional 711,591 shares during the last quarter. BLI Banque de Luxembourg Investments bought a new position in shares of Franco-Nevada in the fourth quarter worth about $52,857,000. Price T Rowe Associates Inc. MD lifted its position in shares of Franco-Nevada by 10.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,286,661 shares of the basic materials company's stock worth $504,069,000 after purchasing an additional 400,384 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Franco-Nevada by 40.8% during the 4th quarter. Two Sigma Advisers LP now owns 1,349,300 shares of the basic materials company's stock valued at $158,664,000 after purchasing an additional 391,000 shares during the period. Institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FNV. National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. CIBC reiterated an "outperform" rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Scotiabank upped their target price on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Finally, Royal Bank Of Canada lifted their price objective on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $172.13.

Franco-Nevada Trading Down 0.0%

FNV opened at $171.05 on Thursday. The stock has a market capitalization of $32.95 billion, a P/E ratio of 53.45, a P/E/G ratio of 2.28 and a beta of 0.36. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $179.99. The firm's fifty day simple moving average is $164.60 and its 200 day simple moving average is $156.60.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.07. Franco-Nevada had a return on equity of 11.40% and a net margin of 50.39%. 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 previous year, the company posted $0.76 earnings per share. The company's quarterly revenue was up 43.5% compared to the same quarter last year. On average, equities research analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend 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.

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