Gamco Investors INC. ET AL Sells 3,393 Shares of Franco-Nevada Corporation $FNV

Gamco Investors INC. ET AL lessened its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 16.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,053 shares of the basic materials company’s stock after selling 3,393 shares during the period. Gamco Investors INC. ET AL’s holdings in Franco-Nevada were worth $4,209,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Addenda Capital Inc. grew its stake in Franco-Nevada by 88.1% in the fourth quarter. Addenda Capital Inc. now owns 203,643 shares of the basic materials company’s stock worth $42,211,000 after purchasing an additional 95,405 shares in the last quarter. Crescent Grove Advisors LLC bought a new stake in Franco-Nevada during the 4th quarter valued at $489,000. Scharf Investments LLC lifted its holdings in shares of Franco-Nevada by 15.8% in the 4th quarter. Scharf Investments LLC now owns 692,209 shares of the basic materials company’s stock worth $143,484,000 after buying an additional 94,465 shares during the period. PKO Investment Management Joint Stock Co grew its position in shares of Franco-Nevada by 11.4% during the 4th quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company’s stock worth $14,519,000 after buying an additional 7,150 shares in the last quarter. Finally, Annex Advisory Services LLC grew its position in shares of Franco-Nevada by 4.9% during the 4th quarter. Annex Advisory Services LLC now owns 199,972 shares of the basic materials company’s stock worth $41,450,000 after buying an additional 9,336 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

FNV has been the subject of several recent research reports. Wall Street Zen downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Scotiabank cut their price target on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. HC Wainwright reiterated a “buy” rating and set a $305.00 price objective on shares of Franco-Nevada in a research note on Wednesday, May 13th. Royal Bank Of Canada decreased their price objective on shares of Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Finally, TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 target price for the company in a report on Wednesday, May 20th. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $273.40.

Franco-Nevada Trading Down 0.2%

FNV opened at $214.25 on Tuesday. The firm has a market cap of $41.32 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 1.81 and a beta of 0.36. The stock’s 50-day moving average price is $215.85 and its 200 day moving average price is $236.63. Franco-Nevada Corporation has a 12-month low of $157.18 and a 12-month high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.29. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The company had revenue of $650.70 million for the quarter, compared to analyst estimates of $634.43 million. During the same period in the prior year, the business earned $1.07 EPS. The firm’s quarterly revenue was up 76.6% on a year-over-year basis. On average, research analysts forecast that Franco-Nevada Corporation will post 8.23 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, June 11th. Franco-Nevada’s dividend payout ratio (DPR) is presently 24.79%.

About Franco-Nevada

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.