QV Investors Inc. Cuts Stock Holdings in Franco-Nevada Corporation $FNV

QV Investors Inc. decreased its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 4.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 211,562 shares of the basic materials company’s stock after selling 10,350 shares during the period. Franco-Nevada comprises approximately 3.4% of QV Investors Inc.’s holdings, making the stock its 9th largest holding. QV Investors Inc. owned approximately 0.11% of Franco-Nevada worth $44,129,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of Franco-Nevada during the second quarter worth $237,000. Quantitative Investment Management LLC grew its holdings in shares of Franco-Nevada by 448.4% in the second quarter. Quantitative Investment Management LLC now owns 6,641 shares of the basic materials company’s stock worth $1,384,000 after purchasing an additional 5,430 shares during the last quarter. Two Sigma Securities LLC purchased a new position in Franco-Nevada in the 2nd quarter worth about $255,000. Benjamin Edwards Inc. increased its stake in Franco-Nevada by 13.2% in the 2nd quarter. Benjamin Edwards Inc. now owns 4,503 shares of the basic materials company’s stock worth $938,000 after buying an additional 525 shares during the period. Finally, Flputnam Investment Management Co. lifted its holdings in Franco-Nevada by 13.1% during the 2nd quarter. Flputnam Investment Management Co. now owns 1,012 shares of the basic materials company’s stock valued at $211,000 after buying an additional 117 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $266.33 on Monday. The stock has a market cap of $51.37 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 2.46 and a beta of 0.35. The firm’s 50-day moving average is $224.15 and its two-hundred day moving average is $236.23. Franco-Nevada Corporation has a 1 year low of $181.50 and a 1 year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The business had revenue of $580.90 million during the quarter, compared to the consensus estimate of $616.66 million. During the same quarter in the prior year, the firm posted $1.24 EPS. The company’s revenue for the quarter was up 57.3% compared to the same quarter last year. On average, equities analysts expect that Franco-Nevada Corporation will post 7.54 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada’s payout ratio is 23.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. National Bank Financial upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Bank of America decreased their price target on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. Scotiabank lowered their price target on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. TD upgraded Franco-Nevada from a “hold” rating to a “buy” rating and lowered their price target for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $305.00 price objective on shares of Franco-Nevada in a research note on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $273.40.

Franco-Nevada Company 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.