Franco-Nevada Corporation $FNV Holdings Decreased by USS Investment Management Ltd

Key Points

• USS Investment Management Ltd reduced its stake in Franco-Nevada Corporation by 18.3%, selling 9,800 shares, leaving them with 43,718 shares valued at approximately $6.88 million.
• Franco-Nevada reported $1.24 earnings per share for the last quarter, exceeding analysts' estimates, while revenue rose by 42% year-over-year.
• The company announced a quarterly dividend of $0.38, with an annualized dividend yield of 0.8%, set to be paid on September 25th.

USS Investment Management Ltd lowered its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 18.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,718 shares of the basic materials company's stock after selling 9,800 shares during the period. USS Investment Management Ltd's holdings in Franco-Nevada were worth $6,877,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FNV. Connor Clark & Lunn Investment Management Ltd. raised its stake in Franco-Nevada by 198.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company's stock valued at $268,280,000 after acquiring an additional 1,133,373 shares in the last quarter. Two Sigma Advisers LP raised its stake in Franco-Nevada by 40.8% during the 4th quarter. Two Sigma Advisers LP now owns 1,349,300 shares of the basic materials company's stock valued at $158,664,000 after acquiring an additional 391,000 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Franco-Nevada by 101.1% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 672,148 shares of the basic materials company's stock valued at $105,731,000 after acquiring an additional 337,926 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Franco-Nevada by 53.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 883,293 shares of the basic materials company's stock valued at $138,945,000 after acquiring an additional 309,161 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Franco-Nevada by 280.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 365,812 shares of the basic materials company's stock valued at $57,526,000 after acquiring an additional 269,730 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Trading Down 0.6%

Shares of NYSE FNV traded down $1.14 during mid-day trading on Friday, reaching $200.71. The company had a trading volume of 803,819 shares, compared to its average volume of 647,920. The stock has a market cap of $38.68 billion, a PE ratio of 49.31, a P/E/G ratio of 2.69 and a beta of 0.41. The company has a 50-day moving average price of $173.94 and a two-hundred day moving average price of $165.75. Franco-Nevada Corporation has a 1-year low of $112.70 and a 1-year high of $203.84.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. The business had revenue of $369.40 million for 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 company's quarterly revenue was up 42.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 EPS. On average, research analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FNV shares. Zacks Research cut Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. HC Wainwright lifted their price target on Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Royal Bank Of Canada lifted their price target on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Scotiabank lifted their price target on Franco-Nevada from $182.00 to $184.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 12th. Finally, Raymond James Financial lifted their price target on Franco-Nevada from $186.00 to $188.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Franco-Nevada presently has an average rating of "Moderate Buy" and a consensus target price of $178.88.

Franco-Nevada Company 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.