Westerkirk Capital Inc. Has $639,000 Stock Position in Franco-Nevada Corporation $FNV

Westerkirk Capital Inc. decreased its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 67.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,080 shares of the basic materials company’s stock after selling 6,300 shares during the period. Westerkirk Capital Inc.’s holdings in Franco-Nevada were worth $639,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Legal & General Group Plc lifted its position in Franco-Nevada by 6.0% during the 3rd quarter. Legal & General Group Plc now owns 986,672 shares of the basic materials company’s stock valued at $219,665,000 after purchasing an additional 55,954 shares during the period. Addenda Capital Inc. lifted its position in Franco-Nevada by 88.1% during the 4th quarter. Addenda Capital Inc. now owns 203,643 shares of the basic materials company’s stock valued at $42,211,000 after purchasing an additional 95,405 shares during the period. TD Asset Management Inc lifted its position in Franco-Nevada by 0.9% during the 3rd quarter. TD Asset Management Inc now owns 2,030,684 shares of the basic materials company’s stock valued at $452,095,000 after purchasing an additional 18,897 shares during the period. Crescent Grove Advisors LLC acquired a new position in Franco-Nevada during the 4th quarter valued at about $489,000. Finally, Mackenzie Financial Corp lifted its position in Franco-Nevada by 76.0% during the 3rd 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 period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $212.13 on Wednesday. The stock has a market cap of $40.91 billion, a P/E ratio of 29.88, a P/E/G ratio of 1.87 and a beta of 0.34. The firm has a 50 day moving average price of $239.10 and a 200 day moving average price of $235.79. Franco-Nevada Corporation has a 52-week low of $152.89 and a 52-week high of $285.67.

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

Franco-Nevada Announces Dividend

The firm also recently announced 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. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 11th. Franco-Nevada’s dividend payout ratio is presently 24.79%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. 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. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Scotiabank upped their target price on shares of Franco-Nevada from $286.00 to $290.00 and gave the company a “sector perform” rating in a research report on Thursday, May 14th. Finally, Zacks Research downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus target price of $271.00.

About Franco-Nevada

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.