QV Investors Inc. Sells 2,259 Shares of Franco-Nevada Corporation $FNV

QV Investors Inc. lowered its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 244,138 shares of the basic materials company’s stock after selling 2,259 shares during the period. Franco-Nevada accounts for about 4.7% of QV Investors Inc.’s holdings, making the stock its 6th biggest position. QV Investors Inc. owned approximately 0.13% of Franco-Nevada worth $54,353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MTM Investment Management LLC acquired a new position in shares of Franco-Nevada during the second quarter worth approximately $32,000. Smartleaf Asset Management LLC increased its stake in Franco-Nevada by 600.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in Franco-Nevada by 78.3% during the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock worth $34,000 after buying an additional 90 shares during the last quarter. CENTRAL TRUST Co lifted its stake in shares of Franco-Nevada by 590.9% in the second quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock valued at $37,000 after buying an additional 195 shares in the last quarter. Finally, City Holding Co. bought a new position in shares of Franco-Nevada in the third quarter valued at $56,000. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FNV shares. UBS Group upped their target price on shares of Franco-Nevada from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Franco-Nevada in a research note on Monday, December 29th. Raymond James Financial raised their target price on Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Finally, HC Wainwright increased their price target on Franco-Nevada from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $232.75.

Franco-Nevada Trading Up 2.4%

NYSE:FNV opened at $258.46 on Friday. Franco-Nevada Corporation has a 12 month low of $127.20 and a 12 month high of $261.04. The firm’s 50 day moving average is $214.36 and its 200 day moving average is $196.86. The stock has a market capitalization of $49.83 billion, a PE ratio of 54.18, a price-to-earnings-growth ratio of 1.43 and a beta of 0.48.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.06. The business had revenue of $487.70 million during the quarter, compared to analyst estimates of $448.51 million. Franco-Nevada had a return on equity of 13.94% and a net margin of 59.48%.Franco-Nevada’s revenue was up 76.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. Research analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, December 4th. Franco-Nevada’s payout ratio is currently 31.87%.

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.