Franco-Nevada Corporation $FNV Shares Sold by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd lessened its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 12.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,462,713 shares of the basic materials company’s stock after selling 334,297 shares during the quarter. Franco-Nevada makes up approximately 3.0% of JARISLOWSKY FRASER Ltd’s investment portfolio, making the stock its 10th largest position. JARISLOWSKY FRASER Ltd owned 1.28% of Franco-Nevada worth $548,279,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its stake in shares of Franco-Nevada by 210.4% in the second quarter. Osaic Holdings Inc. now owns 18,235 shares of the basic materials company’s stock worth $2,989,000 after purchasing an additional 12,360 shares during the last quarter. Markel Group Inc. lifted its holdings in Franco-Nevada by 8.4% during the 2nd quarter. Markel Group Inc. now owns 569,500 shares of the basic materials company’s stock worth $93,352,000 after buying an additional 44,250 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in shares of Franco-Nevada by 24.0% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 22,758 shares of the basic materials company’s stock valued at $3,586,000 after buying an additional 4,408 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its position in shares of Franco-Nevada by 2.6% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 1,043,546 shares of the basic materials company’s stock valued at $171,058,000 after buying an additional 26,772 shares during the last quarter. Finally, Euro Pacific Asset Management LLC increased its stake in shares of Franco-Nevada by 2.4% in the third quarter. Euro Pacific Asset Management LLC now owns 234,129 shares of the basic materials company’s stock valued at $48,829,000 after buying an additional 5,501 shares during the period. 77.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bank of America lifted their price objective on Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Scotiabank lifted their target price on shares of Franco-Nevada from $184.00 to $225.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Jefferies Financial Group restated a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a report on Sunday, December 7th. Royal Bank Of Canada upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $225.00 to $250.00 in a report on Wednesday, December 10th. Finally, UBS Group lifted their target price on Franco-Nevada from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and an average price target of $232.75.

Franco-Nevada Stock Up 0.5%

NYSE FNV opened at $208.24 on Friday. Franco-Nevada Corporation has a 52 week low of $120.67 and a 52 week high of $225.63. The business has a 50 day moving average price of $201.54 and a 200-day moving average price of $190.02. The company has a market cap of $40.15 billion, a price-to-earnings ratio of 43.66, a P/E/G ratio of 1.23 and a beta of 0.48.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share (EPS) 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 the consensus estimate of $448.51 million. Franco-Nevada had a net margin of 59.48% and a return on equity of 13.94%. Franco-Nevada’s revenue was up 76.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 EPS. On average, equities research analysts anticipate 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. Shareholders of record on Thursday, December 4th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, December 4th. Franco-Nevada’s payout ratio is currently 31.87%.

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.