American Century Companies Inc. Trims Holdings in Franco-Nevada Corporation $FNV

American Century Companies Inc. decreased its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,686 shares of the basic materials company’s stock after selling 5,912 shares during the quarter. American Century Companies Inc.’s holdings in Franco-Nevada were worth $37,604,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CX Institutional purchased a new position in Franco-Nevada during the 1st quarter worth $30,000. Cullen Frost Bankers Inc. acquired a new position in shares of Franco-Nevada during the 1st quarter worth $32,000. Nexus Investment Management ULC acquired a new position in shares of Franco-Nevada during the 1st quarter worth $35,000. Golden State Wealth Management LLC grew its stake in shares of Franco-Nevada by 100.0% during the 1st 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 period. Finally, Hexagon Capital Partners LLC grew its stake in shares of Franco-Nevada by 494.7% during the 1st 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 period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

FNV opened at $178.1830 on Thursday. The company’s 50 day simple moving average is $165.64 and its 200 day simple moving average is $159.69. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $180.98. The stock has a market capitalization of $34.34 billion, a PE ratio of 43.78, a P/E/G ratio of 2.31 and a beta of 0.36.

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

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be issued a $0.38 dividend. The ex-dividend date is Thursday, September 11th. This represents a $1.52 annualized dividend and a yield of 0.9%. Franco-Nevada’s dividend payout ratio (DPR) is presently 37.35%.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of research reports. CIBC reissued an “outperform” rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. HC Wainwright increased their price objective on shares of Franco-Nevada from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. National Bankshares restated a “sector perform” rating on shares of Franco-Nevada in a report on Tuesday, June 24th. UBS Group upped their target price on shares of Franco-Nevada from $205.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, July 3rd. Finally, TD Securities upped their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a “hold” rating in a report on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $178.88.

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.