Hillsdale Investment Management Inc. Sells 12,953 Shares of Franco-Nevada Corporation $FNV

Hillsdale Investment Management Inc. lessened its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 36.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,940 shares of the basic materials company’s stock after selling 12,953 shares during the period. Hillsdale Investment Management Inc.’s holdings in Franco-Nevada were worth $4,764,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Jupiter Asset Management Ltd. boosted its holdings in shares of Franco-Nevada by 96.9% during the 4th quarter. Jupiter Asset Management Ltd. now owns 35,266 shares of the basic materials company’s stock valued at $7,320,000 after purchasing an additional 17,352 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Franco-Nevada by 11.4% during the 4th quarter. Geode Capital Management LLC now owns 1,932,148 shares of the basic materials company’s stock valued at $412,395,000 after purchasing an additional 197,567 shares during the last quarter. Flputnam Investment Management Co. bought a new position in shares of Franco-Nevada during the 4th quarter valued at about $237,000. Legal & General Group Plc boosted its holdings in shares of Franco-Nevada by 5.9% during the 4th quarter. Legal & General Group Plc now owns 1,044,515 shares of the basic materials company’s stock valued at $216,797,000 after purchasing an additional 57,843 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Franco-Nevada by 32.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 386 shares of the basic materials company’s stock valued at $80,000 after purchasing an additional 95 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Up 2.3%

Shares of NYSE:FNV opened at $230.82 on Friday. Franco-Nevada Corporation has a 12 month low of $152.89 and a 12 month high of $285.67. The company has a 50-day moving average price of $239.70 and a 200 day moving average price of $234.11. The company has a market cap of $44.52 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 2.01 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.29. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The firm had revenue of $650.70 million during the quarter, compared to the consensus estimate of $634.43 million. During the same quarter last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 76.6% compared to the same quarter last year. As a group, equities analysts forecast that Franco-Nevada Corporation will post 8.85 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is presently 24.79%.

Analysts Set New Price Targets

FNV has been the subject of several research reports. TD raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and dropped their price objective for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. HC Wainwright reissued a “buy” rating and set a $305.00 price objective on shares of Franco-Nevada in a report on Wednesday, May 13th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, February 4th. Weiss Ratings raised shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, March 20th. Finally, Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.00.

Franco-Nevada Company 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.