Chevy Chase Trust Holdings LLC Cuts Stock Holdings in Franco-Nevada Corporation (NYSE:FNV)

Chevy Chase Trust Holdings LLC lowered its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 2.3% during the first quarter, Holdings Channel reports. The fund owned 521,540 shares of the basic materials company’s stock after selling 12,036 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Franco-Nevada were worth $82,174,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. CX Institutional purchased a new position in Franco-Nevada in the first quarter valued at $30,000. Nexus Investment Management ULC purchased a new position in Franco-Nevada in the first quarter valued at $35,000. Versant Capital Management Inc purchased a new position in Franco-Nevada in the first quarter valued at $55,000. Physician Wealth Advisors Inc. purchased a new position in Franco-Nevada in the fourth quarter valued at $49,000. Finally, Harbour Investments Inc. increased its holdings in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after buying an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on FNV shares. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, April 7th. Scotiabank increased their target price on Franco-Nevada from $165.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, May 12th. HC Wainwright reissued a “buy” rating and issued a $195.00 target price (up previously from $180.00) on shares of Franco-Nevada in a report on Wednesday, May 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Finally, TD Securities lowered Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and an average price target of $169.63.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $167.48 on Tuesday. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $179.99. The firm has a market cap of $32.27 billion, a price-to-earnings ratio of 52.34, a PEG ratio of 2.30 and a beta of 0.42. The stock’s 50-day moving average is $168.05 and its two-hundred day moving average is $148.05.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The business had revenue of $368.40 million during the quarter, compared to the consensus estimate of $328.79 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up 43.5% compared to the same quarter last year. As a group, research analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.91%. Franco-Nevada’s dividend payout ratio (DPR) is 47.50%.

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.