Victory Capital Management Inc. Sells 884,305 Shares of Franco-Nevada Corporation (NYSE:FNV)

Victory Capital Management Inc. reduced its holdings in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 25.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,538,935 shares of the basic materials company's stock after selling 884,305 shares during the quarter. Victory Capital Management Inc. owned 1.32% of Franco-Nevada worth $400,035,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. SBI Securities Co. Ltd. grew its position in Franco-Nevada by 10.3% in the first quarter. SBI Securities Co. Ltd. now owns 683 shares of the basic materials company's stock worth $108,000 after acquiring an additional 64 shares in the last quarter. Confluence Investment Management LLC raised its stake in shares of Franco-Nevada by 1.5% in the 1st quarter. Confluence Investment Management LLC now owns 5,874 shares of the basic materials company's stock valued at $926,000 after buying an additional 84 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after buying an additional 93 shares in the last quarter. CoreCommodity Management LLC raised its stake in shares of Franco-Nevada by 2.9% in the 4th quarter. CoreCommodity Management LLC now owns 3,869 shares of the basic materials company's stock valued at $455,000 after buying an additional 108 shares in the last quarter. Finally, Trust Co. of Vermont raised its stake in shares of Franco-Nevada by 10.0% in the 1st quarter. Trust Co. of Vermont now owns 1,265 shares of the basic materials company's stock valued at $199,000 after buying an additional 115 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Down 0.1%

Shares of Franco-Nevada stock traded down $0.18 during trading on Friday, reaching $154.40. The company's stock had a trading volume of 450,316 shares, compared to its average volume of 751,767. The business's 50-day moving average price is $164.67 and its 200-day moving average price is $153.15. The firm has a market cap of $29.75 billion, a PE ratio of 48.25, a P/E/G ratio of 2.08 and a beta of 0.41. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $179.99.

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 analysts' consensus estimates of $1.00 by $0.07. The company had revenue of $368.40 million during 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%. Franco-Nevada's quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 earnings per share. Equities analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.98%. The ex-dividend date was Thursday, June 12th. Franco-Nevada's payout ratio is 47.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Royal Bank Of Canada increased their price objective on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. CIBC restated an "outperform" rating on shares of Franco-Nevada in a report on Tuesday. UBS Group raised their target price on shares of Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. HC Wainwright restated a "buy" rating and set a $195.00 target price (up from $180.00) on shares of Franco-Nevada in a report on Wednesday, May 28th. Finally, Scotiabank raised their target price 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. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $172.13.

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.