Franco-Nevada Corporation $FNV Shares Sold by QV Investors Inc.

QV Investors Inc. reduced its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 226,560 shares of the basic materials company’s stock after selling 17,578 shares during the period. Franco-Nevada accounts for approximately 3.8% of QV Investors Inc.’s holdings, making the stock its 8th biggest position. QV Investors Inc.’s holdings in Franco-Nevada were worth $47,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Franco-Nevada by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 8,216,318 shares of the basic materials company’s stock worth $1,828,821,000 after acquiring an additional 129,898 shares during the period. Bank of Montreal Can boosted its holdings in Franco-Nevada by 8.9% during the third quarter. Bank of Montreal Can now owns 5,560,980 shares of the basic materials company’s stock valued at $1,237,510,000 after acquiring an additional 454,175 shares during the period. First Eagle Investment Management LLC grew its position in shares of Franco-Nevada by 26.4% in the third quarter. First Eagle Investment Management LLC now owns 4,049,187 shares of the basic materials company’s stock valued at $901,092,000 after purchasing an additional 846,950 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Franco-Nevada by 76.0% in the third quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company’s stock valued at $525,925,000 after purchasing an additional 1,020,509 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Franco-Nevada by 0.9% in the third quarter. TD Asset Management Inc now owns 2,030,684 shares of the basic materials company’s stock worth $452,095,000 after purchasing an additional 18,897 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

Shares of FNV opened at $257.75 on Friday. The company has a 50-day simple moving average of $251.77 and a 200-day simple moving average of $224.41. Franco-Nevada Corporation has a 52 week low of $140.03 and a 52 week high of $285.67. The firm has a market capitalization of $49.69 billion, a P/E ratio of 44.75, a P/E/G ratio of 2.76 and a beta of 0.47.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.18. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.The business had revenue of $597.30 million for the quarter, compared to the consensus estimate of $542.02 million. During the same period last year, the business earned $0.95 earnings per share. The firm’s revenue for the quarter was up 86.1% compared to the same quarter last year. As a group, equities analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, March 12th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s payout ratio is 30.56%.

Wall Street Analysts Forecast Growth

FNV has been the subject of several research analyst reports. UBS Group reissued a “buy” rating and set a $310.00 price objective on shares of Franco-Nevada in a research report on Friday, January 30th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $228.00 price target on shares of Franco-Nevada in a research report on Sunday, December 7th. HC Wainwright upped their price target on Franco-Nevada from $285.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Finally, Scotiabank raised their price objective on shares of Franco-Nevada from $283.00 to $286.00 and gave the stock a “sector perform” rating in a research note on Monday, March 16th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Franco-Nevada has an average rating of “Moderate Buy” and an average price target of $257.25.

Franco-Nevada Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.