Franco-Nevada Corporation $FNV Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC decreased its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 968,101 shares of the basic materials company’s stock after selling 44,261 shares during the quarter. Franco-Nevada accounts for about 2.7% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 6th largest holding. Horizon Kinetics Asset Management LLC owned approximately 0.50% of Franco-Nevada worth $200,668,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FNV. GAMMA Investing LLC grew its position in Franco-Nevada by 112.3% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 64 shares in the last quarter. Burkett Financial Services LLC acquired a new stake in Franco-Nevada in the third quarter valued at approximately $28,000. Private Trust Co. NA acquired a new stake in Franco-Nevada in the fourth quarter valued at approximately $29,000. Smartleaf Asset Management LLC grew its position in Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares in the last quarter. Finally, Navalign LLC acquired a new stake in Franco-Nevada in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Down 1.2%

FNV stock opened at $212.13 on Wednesday. The firm has a 50 day simple moving average of $239.10 and a 200-day simple moving average of $235.79. Franco-Nevada Corporation has a twelve month low of $152.89 and a twelve month high of $285.67. The company has a market capitalization of $40.91 billion, a P/E ratio of 29.88, a PEG ratio of 1.87 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.29. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The firm had revenue of $650.70 million for the quarter, compared to analysts’ expectations of $634.43 million. During the same period last year, the business posted $1.07 earnings per share. The firm’s revenue for the quarter was up 76.6% on a year-over-year basis. On average, research analysts predict that Franco-Nevada Corporation will post 8.85 EPS for the current year.

Franco-Nevada Dividend Announcement

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

Wall Street Analysts Forecast Growth

FNV has been the subject of several recent research reports. Wall Street Zen downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings downgraded shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective for the company in a research report on Wednesday, May 20th. TD raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and decreased their price target for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. Finally, TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and decreased their price target for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.