Franco-Nevada Corporation (NYSE:FNV) Shares Sold by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. reduced its holdings in Franco-Nevada Corporation by 69.0% in the first quarter, selling 7,870 shares, leaving them with 3,541 shares valued at $558,000.
• Franco-Nevada's recent quarterly earnings showed an EPS of $1.07, exceeding estimates by $0.07 and reporting a 43.5% year-over-year revenue increase to $368.4 million.
• The company also announced a quarterly dividend of $0.38 per share, representing an annualized dividend yield of 0.9%.

Avantax Advisory Services Inc. trimmed its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 69.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,541 shares of the basic materials company's stock after selling 7,870 shares during the period. Avantax Advisory Services Inc.'s holdings in Franco-Nevada were worth $558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its position in Franco-Nevada by 1.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company's stock worth $1,923,400,000 after acquiring an additional 207,232 shares in the last quarter. Capital World Investors lifted its position in shares of Franco-Nevada by 9.8% in the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock worth $934,106,000 after buying an additional 711,591 shares during the last quarter. 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 valued at $582,100,000 after purchasing an additional 1,650,358 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Franco-Nevada by 10.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,286,661 shares of the basic materials company's stock valued at $504,069,000 after acquiring an additional 400,384 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Franco-Nevada by 0.7% during the fourth quarter. Renaissance Technologies LLC now owns 3,159,439 shares of the basic materials company's stock worth $371,518,000 after buying an additional 20,890 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

FNV opened at $171.10 on Wednesday. The firm has a market capitalization of $32.96 billion, a PE ratio of 53.47, a P/E/G ratio of 2.22 and a beta of 0.36. The company's 50-day moving average is $164.54 and its 200 day moving average is $156.50. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $179.99.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. The business had revenue of $368.40 million for the quarter, compared to the consensus estimate of $328.79 million. Franco-Nevada had a return on equity of 11.40% and a net margin of 50.39%. Franco-Nevada's revenue for the quarter was up 43.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 earnings per share. As a group, analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, June 12th. Franco-Nevada's dividend payout ratio (DPR) is presently 47.50%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. HC Wainwright reaffirmed a "buy" rating and issued a $195.00 price target (up previously from $180.00) on shares of Franco-Nevada in a report on Wednesday, May 28th. Raymond James Financial set a $186.00 target price on shares of Franco-Nevada and gave the stock an "outperform" rating in a research report on Wednesday, May 28th. Scotiabank boosted their price target on Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. BMO Capital Markets reissued an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Finally, Royal Bank Of Canada lifted their price target on shares of Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Franco-Nevada currently has a consensus rating of "Moderate Buy" and an average price target of $172.13.

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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