Pring Turner Capital Group Inc. Sells 5,307 Shares of Franco-Nevada Corporation $FNV

Pring Turner Capital Group Inc. lessened its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 35.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,622 shares of the basic materials company’s stock after selling 5,307 shares during the quarter. Pring Turner Capital Group Inc.’s holdings in Franco-Nevada were worth $1,577,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in shares of Franco-Nevada by 10.0% in the second quarter. American Century Companies Inc. now owns 262,447 shares of the basic materials company’s stock valued at $43,024,000 after buying an additional 23,761 shares during the last quarter. Franklin Resources Inc. boosted its position in Franco-Nevada by 0.3% during the second quarter. Franklin Resources Inc. now owns 95,882 shares of the basic materials company’s stock worth $15,752,000 after purchasing an additional 253 shares during the period. Legal & General Group Plc boosted its position in Franco-Nevada by 9.1% during the second quarter. Legal & General Group Plc now owns 930,718 shares of the basic materials company’s stock worth $152,505,000 after purchasing an additional 77,945 shares during the period. MAI Capital Management increased its holdings in shares of Franco-Nevada by 14.0% in the second quarter. MAI Capital Management now owns 1,432 shares of the basic materials company’s stock valued at $235,000 after purchasing an additional 176 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in shares of Franco-Nevada by 12,983.5% in the second quarter. Hillsdale Investment Management Inc. now owns 52,334 shares of the basic materials company’s stock valued at $8,598,000 after purchasing an additional 51,934 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FNV has been the topic of several research reports. Zacks Research raised Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. HC Wainwright lifted their target price on Franco-Nevada from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. TD Securities reduced their target price on shares of Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a research report on Wednesday, November 5th. Finally, UBS Group upped their price target on shares of Franco-Nevada from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $223.43.

Franco-Nevada Stock Up 0.6%

NYSE:FNV opened at $191.15 on Friday. Franco-Nevada Corporation has a twelve month low of $114.81 and a twelve month high of $225.63. The stock’s 50-day simple moving average is $201.95 and its 200 day simple moving average is $181.47. The firm has a market capitalization of $36.85 billion, a PE ratio of 46.97, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.37 by $0.06. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The business had revenue of $487.70 million during the quarter, compared to the consensus estimate of $448.51 million. During the same quarter in the prior year, the firm earned $0.80 EPS. The firm’s revenue was up 76.9% compared to the same quarter last year. On average, analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

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

Franco-Nevada Company 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.