Ashford Capital Management Inc. Has $20.16 Million Holdings in Franco-Nevada Corporation $FNV

Ashford Capital Management Inc. cut its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 9.2% in the first quarter, Holdings Channel reports. The firm owned 81,621 shares of the basic materials company’s stock after selling 8,236 shares during the period. Franco-Nevada accounts for 2.5% of Ashford Capital Management Inc.’s investment portfolio, making the stock its 12th largest holding. Ashford Capital Management Inc.’s holdings in Franco-Nevada were worth $20,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in FNV. Quantinno Capital Management LP increased its holdings in Franco-Nevada by 15.6% in the first quarter. Quantinno Capital Management LP now owns 38,028 shares of the basic materials company’s stock worth $9,395,000 after buying an additional 5,146 shares during the last quarter. SummitTX Capital L.P. lifted its stake in Franco-Nevada by 909.9% in the first quarter. SummitTX Capital L.P. now owns 65,523 shares of the basic materials company’s stock valued at $16,187,000 after acquiring an additional 59,035 shares during the last quarter. Quadcap Wealth Management LLC lifted its stake in Franco-Nevada by 4.7% in the first quarter. Quadcap Wealth Management LLC now owns 7,099 shares of the basic materials company’s stock valued at $1,754,000 after acquiring an additional 317 shares during the last quarter. OMERS ADMINISTRATION Corp grew its position in Franco-Nevada by 38.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 13,355 shares of the basic materials company’s stock worth $3,296,000 after acquiring an additional 3,724 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC grew its position in Franco-Nevada by 6.8% in the first quarter. Sustainable Insight Capital Management LLC now owns 4,056 shares of the basic materials company’s stock worth $1,004,000 after acquiring an additional 257 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. Zacks Research lowered shares of Franco-Nevada from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective for the company in a report on Wednesday, May 20th. UBS Group lowered their target price on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating and cut their target price for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. Eleven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.40.

Franco-Nevada Stock Down 0.2%

Shares of Franco-Nevada stock opened at $214.25 on Tuesday. The stock has a market capitalization of $41.32 billion, a P/E ratio of 30.18, a PEG ratio of 1.81 and a beta of 0.36. The stock has a 50 day moving average price of $215.85 and a two-hundred day moving average price of $236.63. Franco-Nevada Corporation has a 12-month low of $157.18 and a 12-month high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $634.43 million. During the same quarter last year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 76.6% compared to the same quarter last year. Sell-side analysts anticipate that Franco-Nevada Corporation will post 8.23 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 11th. Franco-Nevada’s dividend payout ratio is currently 24.79%.

Franco-Nevada 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.