Franco-Nevada Corporation (NYSE:FNV) is Mad River Investors' 9th Largest Position

Mad River Investors lessened its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 14.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,802 shares of the basic materials company's stock after selling 4,549 shares during the period. Franco-Nevada accounts for approximately 1.9% of Mad River Investors' investment portfolio, making the stock its 9th biggest position. Mad River Investors' holdings in Franco-Nevada were worth $4,380,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Principal Securities Inc. raised its holdings in shares of Franco-Nevada by 290.5% in the 4th quarter. Principal Securities Inc. now owns 863 shares of the basic materials company's stock valued at $101,000 after purchasing an additional 642 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in Franco-Nevada by 64.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 13,282 shares of the basic materials company's stock worth $1,562,000 after purchasing an additional 5,219 shares during the period. IFP Advisors Inc raised its stake in Franco-Nevada by 29.2% during the 4th quarter. IFP Advisors Inc now owns 5,783 shares of the basic materials company's stock valued at $681,000 after acquiring an additional 1,307 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Franco-Nevada by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 171,005 shares of the basic materials company's stock worth $20,109,000 after purchasing an additional 6,355 shares during the last quarter. Finally, Sprott Inc. boosted its holdings in shares of Franco-Nevada by 22.4% in the fourth quarter. Sprott Inc. now owns 234,136 shares of the basic materials company's stock valued at $27,530,000 after acquiring an additional 42,798 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a research report on Wednesday, April 23rd. Scotiabank upped their price objective on Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price for the company. in a report on Tuesday, March 11th. HC Wainwright reaffirmed a "buy" rating and set a $195.00 price target (up from $180.00) on shares of Franco-Nevada in a research note on Wednesday, May 28th. Finally, UBS Group raised their price objective on shares of Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Franco-Nevada presently has an average rating of "Moderate Buy" and an average price target of $169.63.

Franco-Nevada Stock Down 1.2%

Shares of FNV stock traded down $2.04 during mid-day trading on Wednesday, hitting $163.16. 840,034 shares of the company's stock were exchanged, compared to its average volume of 741,758. The stock has a 50-day simple moving average of $167.77 and a two-hundred day simple moving average of $148.27. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $179.99. The stock has a market cap of $31.43 billion, a price-to-earnings ratio of 50.99, a PEG ratio of 2.30 and a beta of 0.42.

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 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 during the quarter, compared to the consensus estimate of $328.79 million. During the same quarter in the prior year, the company posted $0.76 EPS. The company's quarterly revenue was up 43.5% compared to the same quarter last year. As a group, analysts anticipate that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

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

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.