Franco-Nevada Co. (NYSE:FNV) Stock Position Cut by Tobam

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors raised its holdings in Franco-Nevada by 9.8% in the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock valued at $934,106,000 after acquiring an additional 711,591 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Franco-Nevada by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company's stock valued at $916,540,000 after purchasing an additional 132,465 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Franco-Nevada by 0.3% during the fourth quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company's stock worth $622,124,000 after purchasing an additional 15,273 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in Franco-Nevada by 49.9% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock worth $582,100,000 after purchasing an additional 1,650,358 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Franco-Nevada by 10.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,286,661 shares of the basic materials company's stock valued at $504,069,000 after buying an additional 400,384 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Price Performance

Shares of FNV stock traded up $3.97 during trading hours on Friday, reaching $171.74. The stock had a trading volume of 1,090,157 shares, compared to its average volume of 740,289. The firm has a market capitalization of $33.09 billion, a PE ratio of -54.35, a price-to-earnings-growth ratio of 9.78 and a beta of 0.42. The firm has a 50-day simple moving average of $166.56 and a 200-day simple moving average of $145.79. Franco-Nevada Co. has a twelve month low of $112.70 and a twelve month high of $179.99.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $368.40 million during the quarter, compared to analysts' expectations of $328.79 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada's quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS. On average, equities analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The firm 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 dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada's payout ratio is currently 47.50%.

Analyst Ratings Changes

A number of research analysts have commented on the company. BMO Capital Markets reaffirmed 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 research note on Wednesday, April 23rd. Scotiabank lifted their price objective on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. Finally, TD Securities downgraded shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target on the stock. in a research report on Tuesday, March 11th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $169.63.

Franco-Nevada Profile

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.