Franco-Nevada Corporation (NYSE:FNV) Shares Sold by Carrhae Capital LLP

Carrhae Capital LLP lessened its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 34.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,994 shares of the basic materials company’s stock after selling 71,424 shares during the period. Franco-Nevada comprises 1.6% of Carrhae Capital LLP’s portfolio, making the stock its 15th largest holding. Carrhae Capital LLP owned approximately 0.07% of Franco-Nevada worth $21,270,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. CX Institutional acquired a new position in Franco-Nevada during the first quarter worth approximately $30,000. Cullen Frost Bankers Inc. acquired a new position in Franco-Nevada during the first quarter worth approximately $32,000. Nexus Investment Management ULC acquired a new position in Franco-Nevada during the first quarter worth approximately $35,000. Golden State Wealth Management LLC increased its position in 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 worth $36,000 after purchasing an additional 115 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its position in Franco-Nevada by 494.7% during the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 188 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Down 0.6%

Shares of FNV stock opened at $156.16 on Thursday. The company has a market capitalization of $30.08 billion, a PE ratio of 48.80, a price-to-earnings-growth ratio of 2.15 and a beta of 0.41. The firm has a fifty day simple moving average of $165.17 and a 200-day simple moving average of $152.64. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $179.99.

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, beating 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 period 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. Equities research analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 0.97%. Franco-Nevada’s dividend payout ratio (DPR) is 47.50%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FNV shares. Scotiabank upped their price target on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, May 12th. CIBC reiterated an “outperform” rating on shares of Franco-Nevada in a research note on Tuesday. Raymond James Financial set a $186.00 price objective on shares of Franco-Nevada and gave the stock an “outperform” rating in a research note on Wednesday, May 28th. BMO Capital Markets reiterated an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Finally, Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.13.

About Franco-Nevada

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.