Marathon Asset Management Ltd Cuts Stock Holdings in Franco-Nevada Corporation $FNV

Marathon Asset Management Ltd trimmed its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 5.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 288,741 shares of the basic materials company’s stock after selling 17,982 shares during the quarter. Franco-Nevada accounts for approximately 2.3% of Marathon Asset Management Ltd’s portfolio, making the stock its 12th largest holding. Marathon Asset Management Ltd’s holdings in Franco-Nevada were worth $59,930,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of FNV. PFG Investments LLC grew its position in Franco-Nevada by 0.6% during the fourth quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock valued at $1,484,000 after buying an additional 46 shares during the period. Composition Wealth LLC grew its position in Franco-Nevada by 0.8% during the fourth quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock valued at $1,266,000 after buying an additional 49 shares during the period. Smartleaf Asset Management LLC grew its position in Franco-Nevada by 27.6% during the third quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock valued at $55,000 after buying an additional 54 shares during the period. Lafayette Investments Inc. grew its position in Franco-Nevada by 2.4% during the third quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company’s stock valued at $561,000 after buying an additional 60 shares during the period. Finally, GAMMA Investing LLC grew its position in Franco-Nevada by 112.3% during the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after buying an additional 64 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. National Bank Financial upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 13th. Scotiabank increased their price target on shares of Franco-Nevada from $286.00 to $290.00 and gave the company a “sector perform” rating in a research report on Thursday, May 14th. Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group restated a “buy” rating and set a $310.00 price target on shares of Franco-Nevada in a research report on Friday, January 30th. Finally, HC Wainwright restated a “buy” rating and set a $305.00 price target on shares of Franco-Nevada in a research report on Wednesday, May 13th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $257.75.

Franco-Nevada Stock Down 1.3%

NYSE FNV opened at $222.56 on Wednesday. The company has a market cap of $42.92 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.95 and a beta of 0.34. Franco-Nevada Corporation has a 52 week low of $152.89 and a 52 week high of $285.67. The firm’s 50-day simple moving average is $244.61 and its two-hundred day simple moving average is $232.27.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data 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. The business had revenue of $650.70 million for the quarter, compared to the consensus estimate of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The company’s revenue was up 76.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. As a group, equities research analysts anticipate that Franco-Nevada Corporation will post 8.84 EPS for the current year.

Franco-Nevada Announces Dividend

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