Mutual Advisors LLC Sells 906 Shares of Franco-Nevada Corporation $FNV

Mutual Advisors LLC cut its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 36.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,571 shares of the basic materials company’s stock after selling 906 shares during the quarter. Mutual Advisors LLC’s holdings in Franco-Nevada were worth $256,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new position in shares of Franco-Nevada during the first quarter worth approximately $32,000. Golden State Wealth Management LLC increased its stake in Franco-Nevada by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 115 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in Franco-Nevada by 494.7% in the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 188 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Franco-Nevada in the second quarter valued at approximately $57,000. Finally, Kiker Wealth Management LLC increased its stake in Franco-Nevada by 20.5% in the second quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company’s stock valued at $77,000 after acquiring an additional 80 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Down 5.9%

FNV stock opened at $193.09 on Wednesday. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $225.63. The firm has a market cap of $37.21 billion, a price-to-earnings ratio of 47.44, a PEG ratio of 1.92 and a beta of 0.42. The company’s fifty day simple moving average is $200.11 and its 200 day simple moving average is $177.10.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.14. The firm had revenue of $369.40 million during the quarter, compared to the consensus estimate of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The business’s revenue was up 42.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. Research analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. Franco-Nevada’s payout ratio is presently 37.35%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FNV. HC Wainwright lifted 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. Weiss Ratings cut shares of Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. CIBC reissued an “outperform” rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Scotiabank lifted their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada has an average rating of “Moderate Buy” and an average target price of $210.29.

About Franco-Nevada

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.