Tobam Sells 313 Shares of Franco-Nevada Corporation $FNV

Tobam lessened its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 45.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 379 shares of the basic materials company’s stock after selling 313 shares during the period. Tobam’s holdings in Franco-Nevada were worth $62,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FNV. Cullen Frost Bankers Inc. bought a new position in shares of Franco-Nevada during the 1st quarter valued at approximately $32,000. Golden State Wealth Management LLC increased its stake in shares of Franco-Nevada by 78.3% in the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 90 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of Franco-Nevada by 590.9% during the 2nd quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 195 shares during the period. Opal Wealth Advisors LLC bought a new position in Franco-Nevada in the 2nd quarter worth $57,000. Finally, Kiker Wealth Management LLC boosted its holdings in Franco-Nevada by 20.5% in the 2nd quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company’s stock worth $77,000 after buying an additional 80 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Up 2.9%

FNV stock opened at $200.08 on Thursday. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $225.63. The stock has a market capitalization of $38.57 billion, a price-to-earnings ratio of 49.16, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40. The firm’s fifty day simple moving average is $202.31 and its two-hundred day simple moving average is $180.21.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates 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 58.82% and a return on equity of 12.56%. The firm’s revenue for the quarter was up 76.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 EPS. As a group, equities research analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, December 4th. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada’s payout ratio is presently 31.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Scotiabank raised their price target on Franco-Nevada from $184.00 to $225.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. HC Wainwright upped their target price 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. UBS Group increased their price objective on shares of Franco-Nevada from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $223.43.

Franco-Nevada 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.