Franco-Nevada Corporation $FNV Shares Sold by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. reduced its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,544,113 shares of the basic materials company’s stock after selling 14,348 shares during the quarter. Franco-Nevada makes up about 5.9% of EdgePoint Investment Group Inc.’s portfolio, making the stock its 6th biggest holding. EdgePoint Investment Group Inc.’s holdings in Franco-Nevada were worth $788,687,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. MTM Investment Management LLC acquired a new stake in Franco-Nevada during the 2nd quarter valued at $32,000. Smartleaf Asset Management LLC boosted its position in Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares during the period. CENTRAL TRUST Co increased its holdings 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 purchasing an additional 195 shares during the last quarter. City Holding Co. bought a new position in shares of Franco-Nevada in the third quarter valued at about $56,000. Finally, Montag A & Associates Inc. raised its position in shares of Franco-Nevada by 150.0% in the third quarter. Montag A & Associates Inc. now owns 250 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 150 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

FNV opened at $251.45 on Friday. Franco-Nevada Corporation has a 52-week low of $140.03 and a 52-week high of $285.67. The firm has a market cap of $48.48 billion, a P/E ratio of 43.65, a price-to-earnings-growth ratio of 3.33 and a beta of 0.45. The business’s fifty day moving average is $250.76 and its 200-day moving average is $219.55.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, March 10th. The basic materials company reported $1.85 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $542.02 million. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Franco-Nevada’s revenue for the quarter was up 86.1% compared to the same quarter last year. On average, research analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, March 12th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s dividend payout ratio is presently 30.56%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. Scotiabank boosted their price objective on Franco-Nevada from $225.00 to $283.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. UBS Group reaffirmed a “buy” rating and issued a $310.00 target price on shares of Franco-Nevada in a research report on Friday, January 30th. Zacks Research upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Royal Bank Of Canada raised Franco-Nevada from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $225.00 to $250.00 in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.88.

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.