PKO Investment Management Joint Stock Co Sells 8,500 Shares of Franco-Nevada Corporation (NYSE:FNV)

PKO Investment Management Joint Stock Co lessened its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 14.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,164 shares of the basic materials company's stock after selling 8,500 shares during the period. Franco-Nevada accounts for 0.9% of PKO Investment Management Joint Stock Co's holdings, making the stock its 22nd biggest holding. PKO Investment Management Joint Stock Co's holdings in Franco-Nevada were worth $8,228,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of FNV. CX Institutional bought a new position in shares of Franco-Nevada during the 1st quarter worth approximately $30,000. Nexus Investment Management ULC acquired a new position in shares of Franco-Nevada during the 1st quarter valued at $35,000. Physician Wealth Advisors Inc. acquired a new position in shares of Franco-Nevada during the 4th quarter valued at $49,000. Harbour Investments Inc. boosted its stake in Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after acquiring an additional 93 shares in the last quarter. Finally, Versant Capital Management Inc bought a new position in Franco-Nevada during the first quarter worth $55,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. TD Securities downgraded shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target for the company. in a research note on Tuesday, March 11th. HC Wainwright restated 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. BMO Capital Markets reaffirmed 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 report on Wednesday, May 28th. Finally, National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research note on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $169.63.

Franco-Nevada Stock Down 1.3%

Franco-Nevada stock traded down $2.23 during mid-day trading on Friday, reaching $165.98. 982,266 shares of the company's stock were exchanged, compared to its average volume of 743,518. The business's fifty day simple moving average is $168.08 and its 200 day simple moving average is $147.08. Franco-Nevada Corporation has a one year low of $112.70 and a one year high of $179.99. The firm has a market capitalization of $31.98 billion, a PE ratio of 51.87, a P/E/G ratio of 2.37 and a beta of 0.42.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.07. The firm had revenue of $368.40 million during the quarter, compared to analyst estimates of $328.79 million. Franco-Nevada had a return on equity of 11.40% and a net margin of 50.39%. The business's revenue was up 43.5% compared to the same quarter last year. During the same period last year, the firm posted $0.76 EPS. On average, sell-side 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 announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Thursday, June 12th. Franco-Nevada's payout ratio 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.