Marathon Asset Management Ltd Sells 8,881 Shares of Franco-Nevada Corporation (NYSE:FNV)

Marathon Asset Management Ltd lessened its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 351,677 shares of the basic materials company's stock after selling 8,881 shares during the period. Franco-Nevada makes up about 1.7% of Marathon Asset Management Ltd's investment portfolio, making the stock its 18th biggest holding. Marathon Asset Management Ltd owned about 0.18% of Franco-Nevada worth $55,307,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FNV. Norges Bank bought a new stake in shares of Franco-Nevada in the 4th quarter valued at $237,643,000. EdgePoint Investment Group Inc. grew its stake in Franco-Nevada by 49.9% in 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 during the period. Arrowstreet Capital Limited Partnership grew its stake in Franco-Nevada by 246.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock valued at $136,796,000 after acquiring an additional 828,166 shares during the period. Capital World Investors increased its holdings 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 worth $934,106,000 after acquiring an additional 711,591 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Franco-Nevada by 11,659.0% during the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company's stock worth $56,762,000 after purchasing an additional 478,602 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FNV shares. Raymond James Financial set a $186.00 price objective on Franco-Nevada and gave the company an "outperform" rating in a research report on Wednesday, May 28th. BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Scotiabank increased their price objective on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. UBS Group boosted their price objective on shares of Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $195.00 target price (up from $180.00) on shares of Franco-Nevada in a research note on Wednesday, May 28th. 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $169.63.

Franco-Nevada Trading Down 0.3%

Shares of NYSE FNV traded down $0.56 during mid-day trading on Tuesday, hitting $163.36. The company had a trading volume of 493,090 shares, compared to its average volume of 743,617. Franco-Nevada Corporation has a one year low of $112.70 and a one year high of $179.99. The company has a market capitalization of $31.47 billion, a PE ratio of 51.05, a price-to-earnings-growth ratio of 2.24 and a beta of 0.42. The firm has a 50-day simple moving average of $167.26 and a two-hundred day simple moving average of $149.51.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced 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 net margin of 50.39% and a return on equity of 11.40%. The firm had revenue of $368.40 million during the quarter, compared to analysts' expectations of $328.79 million. During the same quarter last year, the company posted $0.76 earnings per share. The company's revenue for the quarter was up 43.5% compared to the same quarter last year. Sell-side analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 0.93%. Franco-Nevada's dividend payout ratio (DPR) is 47.50%.

About Franco-Nevada

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.