Mufg Securities Canada LTD. Sells 25,343 Shares of Franco-Nevada Corporation $FNV

Mufg Securities Canada LTD. reduced its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 7.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 293,527 shares of the basic materials company’s stock after selling 25,343 shares during the quarter. Franco-Nevada makes up about 1.7% of Mufg Securities Canada LTD.’s portfolio, making the stock its 19th biggest holding. Mufg Securities Canada LTD. owned 0.15% of Franco-Nevada worth $60,858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FNV. AQR Capital Management LLC bought a new position in shares of Franco-Nevada during the 1st quarter worth approximately $241,000. NewEdge Advisors LLC boosted its stake in shares of Franco-Nevada by 16.7% during the 1st quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock worth $1,038,000 after acquiring an additional 943 shares during the period. Intech Investment Management LLC boosted its stake in shares of Franco-Nevada by 118.3% during the 1st quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock worth $1,460,000 after acquiring an additional 5,032 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Franco-Nevada by 800.0% during the 1st quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock worth $424,000 after acquiring an additional 2,400 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Franco-Nevada during the 2nd quarter worth approximately $1,477,000. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

FNV opened at $209.68 on Monday. Franco-Nevada Corporation has a 52-week low of $152.89 and a 52-week high of $285.67. The firm has a market cap of $40.44 billion, a P/E ratio of 29.53, a price-to-earnings-growth ratio of 1.82 and a beta of 0.34. The business’s fifty day moving average is $236.90 and its 200-day moving average is $236.11.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 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 company had revenue of $650.70 million for the quarter, compared to analysts’ expectations of $634.43 million. During the same quarter last year, the business earned $1.07 earnings per share. Franco-Nevada’s revenue was up 76.6% on a year-over-year basis. On average, research analysts predict that Franco-Nevada Corporation will post 8.85 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target for the company in a research note on Wednesday, May 20th. Zacks Research downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Weiss Ratings downgraded Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Scotiabank boosted their price target on Franco-Nevada from $286.00 to $290.00 and gave the company a “sector perform” rating in a research note on Thursday, May 14th. Finally, HC Wainwright restated a “buy” rating and issued a $305.00 price target on shares of Franco-Nevada in a research note on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average 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.