Vista Investment Partners II LLC Decreases Stock Position in Franco-Nevada Corporation (NYSE:FNV)

Vista Investment Partners II LLC trimmed its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 53.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,298 shares of the basic materials company's stock after selling 3,846 shares during the quarter. Vista Investment Partners II LLC's holdings in Franco-Nevada were worth $520,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Confluence Investment Management LLC boosted its stake in shares of Franco-Nevada by 1.5% during the first quarter. Confluence Investment Management LLC now owns 5,874 shares of the basic materials company's stock valued at $926,000 after purchasing an additional 84 shares in the last quarter. Harbour Investments Inc. grew its holdings in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after purchasing an additional 93 shares during the last quarter. CoreCommodity Management LLC grew its holdings in Franco-Nevada by 2.9% in the fourth quarter. CoreCommodity Management LLC now owns 3,869 shares of the basic materials company's stock worth $455,000 after purchasing an additional 108 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in Franco-Nevada by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock worth $36,000 after purchasing an additional 115 shares during the last quarter. Finally, Trust Co. of Vermont grew its holdings in shares of Franco-Nevada by 10.0% during the first 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 during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FNV. UBS Group boosted their price objective on shares of Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 11th. National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday. HC Wainwright reissued a "buy" rating and set a $195.00 target price (up previously from $180.00) on shares of Franco-Nevada in a research note on Wednesday, May 28th. TD Securities cut shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective for the company. in a research note on Tuesday, March 11th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $169.63.

Franco-Nevada Stock Performance

NYSE:FNV opened at $161.27 on Friday. The stock has a market capitalization of $31.07 billion, a P/E ratio of 50.40, a PEG ratio of 2.29 and a beta of 0.42. The company has a 50 day moving average price of $167.44 and a 200 day moving average price of $148.83. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $179.99.

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, topping analysts' consensus estimates of $1.00 by $0.07. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The firm had revenue of $368.40 million during the quarter, compared to analysts' expectations of $328.79 million. During the same quarter last year, the company posted $0.76 EPS. The firm's quarterly revenue was up 43.5% on a year-over-year basis. Research analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $1.52 annualized dividend and a yield of 0.94%. Franco-Nevada's dividend payout ratio is presently 47.50%.

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.

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