Phoenix Financial Ltd. Sells 1,611 Shares of Franco-Nevada Corporation $FNV

Phoenix Financial Ltd. reduced its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 34.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,125 shares of the basic materials company’s stock after selling 1,611 shares during the period. Phoenix Financial Ltd.’s holdings in Franco-Nevada were worth $512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in FNV. Blue Trust Inc. increased its position in Franco-Nevada by 5,746.7% in the 1st quarter. Blue Trust Inc. now owns 877 shares of the basic materials company’s stock worth $138,000 after buying an additional 862 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Franco-Nevada by 9.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,789 shares of the basic materials company’s stock worth $2,173,000 after buying an additional 1,176 shares during the period. Spire Wealth Management increased its position in Franco-Nevada by 13.1% in the 1st quarter. Spire Wealth Management now owns 3,431 shares of the basic materials company’s stock worth $541,000 after buying an additional 398 shares during the period. Bessemer Group Inc. increased its position in shares of Franco-Nevada by 1,583.3% during the first quarter. Bessemer Group Inc. now owns 13,130 shares of the basic materials company’s stock valued at $2,067,000 after purchasing an additional 12,350 shares during the period. Finally, Golden State Wealth Management LLC increased its position in shares of Franco-Nevada by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 115 shares during the period. 77.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FNV has been the topic of a number of research reports. Weiss Ratings cut Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. HC Wainwright boosted their price objective on Franco-Nevada from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Scotiabank boosted their price objective on Franco-Nevada from $182.00 to $184.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 12th. Wall Street Zen cut Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Canaccord Genuity Group cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.29.

Franco-Nevada Price Performance

Shares of NYSE:FNV opened at $189.84 on Thursday. The business’s fifty day moving average price is $200.32 and its two-hundred day moving average price is $177.19. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $225.63. The stock has a market capitalization of $36.58 billion, a price-to-earnings ratio of 46.64, a price-to-earnings-growth ratio of 1.81 and a beta of 0.42.

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

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, September 11th. Franco-Nevada’s dividend payout ratio is 37.35%.

Franco-Nevada Company 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.