Mad River Investors Sells 4,549 Shares of Franco-Nevada Corporation (NYSE:FNV)

Mad River Investors decreased 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 Form 13F filing with the Securities & Exchange Commission. The fund owned 27,802 shares of the basic materials company's stock after selling 4,549 shares during the quarter. Franco-Nevada makes up approximately 1.9% of Mad River Investors' 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 and hedge funds have also recently added to or reduced their stakes in the company. CX Institutional acquired a new position in Franco-Nevada in the first quarter valued at approximately $30,000. Nexus Investment Management ULC acquired a new position in Franco-Nevada in the first quarter valued at approximately $35,000. Versant Capital Management Inc acquired a new position in Franco-Nevada in the first quarter valued at approximately $55,000. Physician Wealth Advisors Inc. acquired a new position in Franco-Nevada in the fourth quarter valued at approximately $49,000. Finally, Harbour Investments Inc. boosted its holdings in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 93 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective for the company. in a report on Tuesday, March 11th. UBS Group increased their price objective on Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 11th. BMO Capital Markets restated an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Raymond James Financial set a $186.00 price target on Franco-Nevada and gave the stock an "outperform" rating in a research note on Wednesday, May 28th. Finally, Wall Street Zen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $169.63.

Franco-Nevada Stock Performance

NYSE:FNV opened at $165.98 on Friday. The stock has a fifty day moving average price of $168.08 and a two-hundred day moving average price of $147.55. The stock has a market capitalization of $31.98 billion, a price-to-earnings ratio of 51.87, a PEG ratio of 2.34 and a beta of 0.42. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $179.99.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $368.40 million during the quarter, compared to analysts' expectations 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 was up 43.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share. On average, analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, June 12th. Franco-Nevada's payout ratio is 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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