Centerstone Investors LLC Sells 35,153 Shares of Franco-Nevada Co. (NYSE:FNV)

by · The Cerbat Gem

Centerstone Investors LLC lowered its stake in Franco-Nevada Co. (NYSE:FNV – Free Report) (TSE:FNV) by 69.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,373 shares of the basic materials company’s stock after selling 35,153 shares during the quarter. Franco-Nevada makes up approximately 2.7% of Centerstone Investors LLC’s investment portfolio, making the stock its 15th largest position. Centerstone Investors LLC’s holdings in Franco-Nevada were worth $1,808,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FNV. Norges Bank acquired a new stake in Franco-Nevada in the fourth quarter valued at approximately $237,643,000. EdgePoint Investment Group Inc. boosted its holdings in shares of Franco-Nevada by 49.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company’s stock valued at $582,100,000 after acquiring an additional 1,650,358 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Franco-Nevada by 246.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company’s stock worth $136,796,000 after acquiring an additional 828,166 shares during the last quarter. Capital World Investors increased its holdings in Franco-Nevada by 9.8% in the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock worth $934,106,000 after purchasing an additional 711,591 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in Franco-Nevada by 11,659.0% in the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company’s stock valued at $56,762,000 after purchasing an additional 478,602 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

FNV stock opened at $164.01 on Friday. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $178.74. The stock has a market capitalization of $31.58 billion, a PE ratio of -51.90, a price-to-earnings-growth ratio of 9.78 and a beta of 0.45. The company’s 50-day moving average is $161.42 and its 200-day moving average is $140.43.

Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last issued its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm had revenue of $368.40 million during the quarter, compared to analyst estimates of $328.79 million. During the same period in the previous year, the company posted $0.76 EPS. The company’s revenue for the quarter was up 43.5% on a year-over-year basis. On average, analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 0.93%. Franco-Nevada’s dividend payout ratio (DPR) is presently 47.50%.

Wall Street Analyst Weigh In

FNV has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Wall Street Zen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, April 7th. National Bankshares restated a “sector perform” rating on shares of Franco-Nevada in a research report on Wednesday, April 23rd. Raymond James upped their target price on Franco-Nevada from $162.00 to $181.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Finally, Scotiabank boosted their price target on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $162.75.

Check Out Our Latest Report on FNV

About Franco-Nevada

(Free Report)

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.

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