Berkeley Capital Partners LLC Sells 774 Shares of Franco-Nevada Corporation $FNV

Berkeley Capital Partners LLC lessened its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 5.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,592 shares of the basic materials company’s stock after selling 774 shares during the period. Berkeley Capital Partners LLC’s holdings in Franco-Nevada were worth $2,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new stake in Franco-Nevada in the 1st quarter valued at $32,000. Golden State Wealth Management LLC raised its stake in Franco-Nevada by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 115 shares during the period. Hexagon Capital Partners LLC raised its stake in Franco-Nevada by 494.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 188 shares during the period. Opal Wealth Advisors LLC bought a new stake in Franco-Nevada in the 2nd quarter valued at $57,000. Finally, Kiker Wealth Management LLC raised its stake in Franco-Nevada by 20.5% in the 2nd quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company’s stock valued at $77,000 after acquiring an additional 80 shares during the period. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FNV. Raymond James Financial increased their price objective on Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. CIBC reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Canaccord Genuity Group cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. HC Wainwright increased their price objective on Franco-Nevada from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Finally, Scotiabank increased their price objective on Franco-Nevada from $182.00 to $184.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Franco-Nevada presently has an average rating of “Hold” and a consensus target price of $210.29.

Franco-Nevada Stock Performance

FNV opened at $205.20 on Tuesday. The firm has a market cap of $39.55 billion, a P/E ratio of 50.42, a price-to-earnings-growth ratio of 1.91 and a beta of 0.42. Franco-Nevada Corporation has a 52-week low of $112.70 and a 52-week high of $225.63. The business’s fifty day moving average is $199.80 and its 200-day moving average is $176.99.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. The company had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.Franco-Nevada’s quarterly revenue was up 42.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 EPS. On average, research analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 11th. Franco-Nevada’s dividend payout ratio is 37.35%.

Franco-Nevada Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.