Franco-Nevada Co. (NYSE:FNV) Shares Sold by Centerstone Investors LLC

Centerstone Investors LLC decreased its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,526 shares of the basic materials company’s stock after selling 3,379 shares during the period. Franco-Nevada accounts for approximately 5.8% of Centerstone Investors LLC’s holdings, making the stock its 4th biggest holding. Centerstone Investors LLC’s holdings in Franco-Nevada were worth $6,276,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Franco-Nevada in the 2nd quarter valued at $276,446,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Franco-Nevada by 3,404.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock worth $86,287,000 after purchasing an additional 706,919 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in shares of Franco-Nevada by 19.4% during the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after acquiring an additional 537,047 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after purchasing an additional 424,810 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in Franco-Nevada by 60.1% in the 3rd quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock valued at $119,069,000 after buying an additional 359,900 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Down 2.2 %

Shares of FNV traded down $2.76 during midday trading on Thursday, hitting $121.69. The company’s stock had a trading volume of 36,397 shares, compared to its average volume of 661,889. The company’s fifty day simple moving average is $125.10 and its two-hundred day simple moving average is $123.53. The stock has a market capitalization of $23.42 billion, a price-to-earnings ratio of -39.38 and a beta of 0.72. Franco-Nevada Co. has a one year low of $103.33 and a one year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The company had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 earnings per share. On average, research analysts predict that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 annualized dividend and a yield of 1.18%. Franco-Nevada’s dividend payout ratio is presently -45.57%.

Analyst Ratings Changes

Several equities research analysts have commented on FNV shares. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. UBS Group began coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 price target on the stock. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, HC Wainwright lifted their price target on Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.83.

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.