Royal Bank of Canada Sells 312,680 Shares of Franco-Nevada Corporation $FNV

Key Points

• Royal Bank of Canada reduced its stake in Franco-Nevada Corporation by 10.0% during Q1, leaving it with approximately 2.8 million shares valued at $444 million.
• Franco-Nevada's quarterly earnings report showed an EPS of $1.24, surpassing estimates, with revenue of $369.4 million, yet falling short of analyst expectations.
• The company recently declared a quarterly dividend of $0.38, which will be paid on September 25th, reflecting an annualized yield of 0.8%.

Royal Bank of Canada decreased its stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 10.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,819,093 shares of the basic materials company's stock after selling 312,680 shares during the quarter. Royal Bank of Canada owned 1.46% of Franco-Nevada worth $444,177,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Baird Financial Group Inc. grew its position in Franco-Nevada by 22.1% during the first quarter. Baird Financial Group Inc. now owns 137,395 shares of the basic materials company's stock worth $21,648,000 after buying an additional 24,834 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Franco-Nevada by 1.7% during the first quarter. The Manufacturers Life Insurance Company now owns 1,980,772 shares of the basic materials company's stock valued at $313,071,000 after purchasing an additional 33,044 shares during the period. Canada Pension Plan Investment Board lifted its position in Franco-Nevada by 53.8% in the first quarter. Canada Pension Plan Investment Board now owns 883,293 shares of the basic materials company's stock worth $138,945,000 after purchasing an additional 309,161 shares during the period. Trexquant Investment LP bought a new position in Franco-Nevada in the first quarter worth $2,228,000. Finally, Quadcap Wealth Management LLC boosted its stake in Franco-Nevada by 52.7% during the first quarter. Quadcap Wealth Management LLC now owns 4,863 shares of the basic materials company's stock worth $766,000 after buying an additional 1,679 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Performance

Franco-Nevada stock traded down $0.00 during trading hours on Thursday, hitting $190.00. 576,346 shares of the stock were exchanged, compared to its average volume of 820,426. The stock has a market capitalization of $36.61 billion, a P/E ratio of 46.68, a P/E/G ratio of 2.51 and a beta of 0.41. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $192.04. The business's 50-day moving average is $169.33 and its two-hundred day moving average is $162.81.

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

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 11th. Franco-Nevada's dividend payout ratio is currently 37.35%.

Analyst Upgrades and Downgrades

FNV has been the subject of a number of recent research reports. CIBC restated an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. TD Securities increased their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a research report on Tuesday, August 12th. UBS Group increased their price target on shares of Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Finally, Zacks Research lowered shares of Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Franco-Nevada currently has an average 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.