Marathon Asset Management Ltd Reduces Stake in Franco-Nevada Corporation (NYSE:FNV)

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

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Franco-Nevada by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company's stock valued at $49,702,000 after purchasing an additional 16,029 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Franco-Nevada by 5.0% during the fourth quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company's stock worth $113,200,000 after purchasing an additional 45,495 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Franco-Nevada during the first quarter worth about $1,415,000. Merit Financial Group LLC acquired a new stake in shares of Franco-Nevada during the first quarter worth about $333,000. Finally, Autumn Glory Partners LLC acquired a new stake in shares of Franco-Nevada during the first quarter worth about $315,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Down 2.1%

Shares of FNV stock traded down $3.45 during trading hours on Friday, hitting $161.27. 1,258,419 shares of the company's stock were exchanged, compared to its average volume of 744,826. The firm has a 50 day moving average of $167.44 and a two-hundred day moving average of $149.19. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $179.99. The firm has a market cap of $31.07 billion, a P/E ratio of 45.19, a P/E/G ratio of 2.24 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 the consensus estimate of $1.00 by $0.07. Franco-Nevada had a return on equity of 11.40% and a net margin of 50.39%. The firm had revenue of $368.40 million during the quarter, compared to the consensus estimate of $328.79 million. During the same period in the prior year, the company earned $0.76 EPS. The firm's revenue was up 43.5% compared to the same quarter last year. On average, equities analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Thursday, June 12th. Franco-Nevada's dividend payout ratio is currently 47.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FNV shares. 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. Royal Bank Of Canada boosted their price target on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Wall Street Zen raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. Finally, Raymond James Financial set a $186.00 price target on Franco-Nevada and gave the company an "outperform" rating in a report 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $169.63.

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.