Franco-Nevada Corporation $FNV Shares Sold by U S Global Investors Inc.

U S Global Investors Inc. trimmed its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 11.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 82,537 shares of the basic materials company’s stock after selling 10,768 shares during the quarter. Franco-Nevada makes up 2.1% of U S Global Investors Inc.’s investment portfolio, making the stock its 12th largest position. U S Global Investors Inc.’s holdings in Franco-Nevada were worth $18,398,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FNV. AQR Capital Management LLC purchased a new position in Franco-Nevada in the 1st quarter valued at about $241,000. Integrated Wealth Concepts LLC purchased a new stake in Franco-Nevada during the 1st quarter worth approximately $3,994,000. NewEdge Advisors LLC raised its holdings in shares of Franco-Nevada by 16.7% during the first quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock valued at $1,038,000 after acquiring an additional 943 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Franco-Nevada in the first quarter valued at approximately $900,000. Finally, United Services Automobile Association acquired a new stake in shares of Franco-Nevada in the first quarter worth approximately $984,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Up 0.5%

Shares of FNV stock opened at $208.24 on Friday. Franco-Nevada Corporation has a twelve month low of $120.67 and a twelve month high of $225.63. The company’s 50-day moving average price is $201.54 and its 200-day moving average price is $190.17. The stock has a market cap of $40.15 billion, a price-to-earnings ratio of 43.66, a PEG ratio of 1.24 and a beta of 0.48.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.06. The firm had revenue of $487.70 million during the quarter, compared to analysts’ expectations 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 period last year, the business earned $0.80 earnings per share. As a group, equities research analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were issued a $0.38 dividend. The ex-dividend date was Thursday, December 4th. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada’s dividend payout ratio is currently 31.87%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Franco-Nevada in a research note on Monday, December 29th. Raymond James Financial increased their target price on shares of Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. HC Wainwright boosted their price target on shares of Franco-Nevada from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Bank of America upped their price objective on shares of Franco-Nevada from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Finally, Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $232.75.

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.