NFJ Investment Group LLC Trims Stake in Franco-Nevada Corporation $FNV

Key Points

• NFJ Investment Group LLC reduced its stake in Franco-Nevada Corporation by 10.0%, selling 5,352 shares and now owns 48,096 shares valued at $7,578,000.
• Franco-Nevada reported earnings of $1.24 per share for the last quarter, exceeding estimates, while its revenue showed a year-over-year increase of 42.0%.
• The company announced a quarterly dividend of $0.38 per share, representing an annualized yield of 0.8% and a payout ratio of 37.35%.

NFJ Investment Group LLC lessened its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 10.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,096 shares of the basic materials company's stock after selling 5,352 shares during the quarter. NFJ Investment Group LLC's holdings in Franco-Nevada were worth $7,578,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. lifted its holdings in Franco-Nevada by 10.3% during the first quarter. SBI Securities Co. Ltd. now owns 683 shares of the basic materials company's stock worth $108,000 after acquiring an additional 64 shares during the period. Confluence Investment Management LLC lifted its holdings in Franco-Nevada by 1.5% during the first quarter. Confluence Investment Management LLC now owns 5,874 shares of the basic materials company's stock worth $926,000 after acquiring an additional 84 shares during the period. Public Sector Pension Investment Board lifted its holdings in Franco-Nevada by 0.5% during the first quarter. Public Sector Pension Investment Board now owns 18,550 shares of the basic materials company's stock worth $2,917,000 after acquiring an additional 100 shares during the period. Trust Co. of Vermont lifted its holdings in Franco-Nevada by 10.0% during the first quarter. Trust Co. of Vermont now owns 1,265 shares of the basic materials company's stock worth $199,000 after acquiring an additional 115 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings in Franco-Nevada by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock worth $36,000 after acquiring an additional 115 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Trading Up 2.1%

Shares of NYSE FNV traded up $3.93 during mid-day trading on Friday, hitting $193.96. The company had a trading volume of 585,807 shares, compared to its average volume of 665,233. The company has a market capitalization of $37.38 billion, a price-to-earnings ratio of 47.66, a P/E/G ratio of 2.59 and a beta of 0.41. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $194.87. The stock's 50-day moving average price is $170.49 and its 200-day moving average price is $163.85.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.14. The company had revenue of $369.40 million during the quarter, compared to analysts' expectations of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The firm's quarterly revenue was up 42.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. As a group, equities research analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be given a $0.38 dividend. The ex-dividend date is Thursday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. Franco-Nevada's payout ratio is 37.35%.

Wall Street Analyst Weigh In

FNV has been the topic of a number of recent analyst reports. BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Zacks Research lowered Franco-Nevada from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. Scotiabank boosted their target price on Franco-Nevada from $182.00 to $184.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 12th. Finally, HC Wainwright boosted their target price on Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $178.88.

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.