Carrhae Capital LLP Decreases Stock Position in Franco-Nevada Corporation (NYSE:FNV)

Carrhae Capital LLP lowered its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 34.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,994 shares of the basic materials company's stock after selling 71,424 shares during the period. Franco-Nevada makes up approximately 1.6% of Carrhae Capital LLP's portfolio, making the stock its 15th largest position. Carrhae Capital LLP owned approximately 0.07% of Franco-Nevada worth $21,270,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Montrusco Bolton Investments Inc. increased its position in shares of Franco-Nevada by 2.8% during the first quarter. Montrusco Bolton Investments Inc. now owns 150,587 shares of the basic materials company's stock valued at $23,681,000 after acquiring an additional 4,098 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Franco-Nevada during the first quarter valued at approximately $32,000. Tectonic Advisors LLC increased its position in shares of Franco-Nevada by 28.5% during the first quarter. Tectonic Advisors LLC now owns 8,285 shares of the basic materials company's stock valued at $1,305,000 after acquiring an additional 1,837 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Franco-Nevada by 29.6% during the first quarter. Larson Financial Group LLC now owns 832 shares of the basic materials company's stock valued at $131,000 after acquiring an additional 190 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC bought a new stake in shares of Franco-Nevada during the first quarter valued at approximately $205,000. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Performance

Shares of FNV stock traded down $0.18 during mid-day trading on Friday, reaching $154.40. 450,316 shares of the company's stock traded hands, compared to its average volume of 750,161. 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 moving average price of $164.95 and a two-hundred day moving average price of $152.90. The firm has a market capitalization of $29.75 billion, a PE ratio of 48.25, a price-to-earnings-growth ratio of 2.14 and a beta of 0.41.

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, beating analysts' consensus estimates 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 analysts' expectations of $328.79 million. During the same quarter in the previous year, the company earned $0.76 EPS. Franco-Nevada's revenue for the quarter was up 43.5% on a year-over-year basis. As a group, equities analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors 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 dividend yield of 0.98%. The ex-dividend date was Thursday, June 12th. Franco-Nevada's dividend payout ratio (DPR) is 47.50%.

Analyst Upgrades and Downgrades

A number of research firms have commented on FNV. UBS Group lifted their target price on shares of Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a research 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. HC Wainwright reaffirmed a "buy" rating and issued a $195.00 target price (up previously from $180.00) on shares of Franco-Nevada in a research report on Wednesday, May 28th. Finally, CIBC reaffirmed an "outperform" rating on shares of Franco-Nevada in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $172.13.

Franco-Nevada Company 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.