Moors & Cabot Inc. Sells 13,686 Shares of Franco-Nevada Corporation (NYSE:FNV)

Key Points

• Moors & Cabot Inc. reduced its stake in Franco-Nevada Corporation by 29.7% during the first quarter, holding 32,379 shares worth approximately $5.1 million after selling 13,686 shares.
• Multiple institutional investors have shown interest in Franco-Nevada, with entities like CX Institutional and Cullen Frost Bankers Inc. acquiring new stakes valued at around $30,000 and $32,000, respectively.
• Franco-Nevada reported an EPS of $1.07, surpassing analyst estimates by $0.07, and saw a 43.5% increase in quarterly revenue year-over-year.

Moors & Cabot Inc. decreased its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 29.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,379 shares of the basic materials company's stock after selling 13,686 shares during the period. Moors & Cabot Inc.'s holdings in Franco-Nevada were worth $5,102,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the company. LPL Financial LLC lifted its position in shares of Franco-Nevada by 6.3% during the 4th quarter. LPL Financial LLC now owns 30,843 shares of the basic materials company's stock valued at $3,627,000 after acquiring an additional 1,818 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Franco-Nevada by 5.0% during the 4th quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company's stock valued at $113,200,000 after acquiring an additional 45,495 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of Franco-Nevada by 12.0% during the 4th quarter. Orion Portfolio Solutions LLC now owns 2,103 shares of the basic materials company's stock valued at $247,000 after acquiring an additional 226 shares during the period. Schroder Investment Management Group acquired a new position in shares of Franco-Nevada during the 4th quarter valued at $473,000. Finally, Wellington Management Group LLP lifted its position in shares of Franco-Nevada by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 105,225 shares of the basic materials company's stock valued at $12,359,000 after acquiring an additional 27,299 shares during the period. Institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FNV shares. UBS Group boosted their price objective on Franco-Nevada from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Wall Street Zen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. BMO Capital Markets restated an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Finally, HC Wainwright restated a "buy" rating and set a $195.00 price objective (up previously from $180.00) on shares of Franco-Nevada in a report on Wednesday, May 28th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $172.13.

Franco-Nevada Stock Up 1.4%

FNV stock traded up $2.28 during mid-day trading on Friday, reaching $161.61. 894,251 shares of the company traded hands, compared to its average volume of 663,978. The firm's 50 day moving average price is $164.51 and its 200 day moving average price is $155.89. 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 $31.13 billion, a price-to-earnings ratio of 50.50, a P/E/G ratio of 2.15 and a beta of 0.36.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly 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. The company had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The firm's revenue was up 43.5% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. On average, analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.9%. Franco-Nevada's dividend payout ratio (DPR) is currently 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.