Tobam Lowers Stake in Franco-Nevada Corporation (NYSE:FNV)

Tobam trimmed its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 92.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 692 shares of the basic materials company's stock after selling 8,699 shares during the quarter. Tobam's holdings in Franco-Nevada were worth $109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CX Institutional bought a new position in shares of Franco-Nevada in the first quarter worth about $30,000. Integrated Advisors Network LLC lifted its holdings in Franco-Nevada by 123.0% in the 1st quarter. Integrated Advisors Network LLC now owns 4,985 shares of the basic materials company's stock worth $785,000 after purchasing an additional 2,750 shares in the last quarter. SG Americas Securities LLC grew its holdings in Franco-Nevada by 38.9% during the 1st quarter. SG Americas Securities LLC now owns 50,906 shares of the basic materials company's stock valued at $8,021,000 after buying an additional 14,263 shares in the last quarter. Abacus Planning Group Inc. purchased a new stake in Franco-Nevada during the 1st quarter valued at approximately $209,000. Finally, First Affirmative Financial Network bought a new stake in shares of Franco-Nevada during the first quarter valued at approximately $228,000. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Trading Down 1.5%

Shares of NYSE FNV traded down $2.66 during trading hours on Tuesday, hitting $169.05. 749,614 shares of the company traded hands, compared to its average volume of 742,289. The company's 50 day moving average price is $167.51 and its 200 day moving average price is $146.61. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $179.99. The stock has a market capitalization of $32.57 billion, a price-to-earnings ratio of 52.83, a price-to-earnings-growth ratio of 2.42 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.07. The business had revenue of $368.40 million for the quarter, compared to analysts' expectations of $328.79 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The business's revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 earnings per share. Equities analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada's payout ratio is currently 47.50%.

Analysts Set New Price Targets

FNV has been the subject of a number of research reports. Royal Bank Of Canada upped their target price on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. BMO Capital Markets reissued an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Raymond James Financial set a $186.00 price objective on Franco-Nevada and gave the company an "outperform" rating in a research report on Wednesday, May 28th. TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price on the stock. in a research report on Tuesday, March 11th. Finally, HC Wainwright restated a "buy" rating and set a $195.00 price target (up previously from $180.00) on shares of Franco-Nevada in a report on Wednesday, May 28th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Franco-Nevada has a consensus rating of "Moderate Buy" and an average price target of $169.63.

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.