75,714 Franco-Nevada Corporation $FNV Shares Sold by Cidel Asset Management Inc.

Cidel Asset Management Inc. lessened its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 96.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,551 shares of the basic materials company’s stock after selling 75,714 shares during the period. Cidel Asset Management Inc.’s holdings in Franco-Nevada were worth $609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. New Harbor Financial Group LLC raised its holdings in Franco-Nevada by 2.4% during the third quarter. New Harbor Financial Group LLC now owns 1,871 shares of the basic materials company’s stock worth $446,000 after purchasing an additional 44 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of Franco-Nevada by 0.7% in the first quarter. PFG Investments LLC now owns 7,211 shares of the basic materials company’s stock valued at $1,782,000 after buying an additional 52 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Franco-Nevada by 2.1% in the first quarter. Parallel Advisors LLC now owns 2,605 shares of the basic materials company’s stock valued at $644,000 after buying an additional 53 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its stake in Franco-Nevada by 22.4% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 295 shares of the basic materials company’s stock valued at $70,000 after buying an additional 54 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in Franco-Nevada by 10.8% during the third quarter. SBI Securities Co. Ltd. now owns 594 shares of the basic materials company’s stock valued at $141,000 after buying an additional 58 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Trading Up 0.1%

Shares of NYSE:FNV opened at $225.09 on Monday. Franco-Nevada Corporation has a 1 year low of $181.95 and a 1 year high of $285.67. The business has a fifty day simple moving average of $251.69 and a 200 day simple moving average of $240.11. The firm has a market cap of $43.41 billion, a price-to-earnings ratio of 29.42, a P/E/G ratio of 2.61 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The firm had revenue of $580.90 million during the quarter, compared to analysts’ expectations of $616.66 million. During the same quarter last year, the firm earned $1.24 EPS. The business’s revenue for the quarter was up 57.3% compared to the same quarter last year. On average, sell-side analysts forecast that Franco-Nevada Corporation will post 7.39 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were issued a $0.44 dividend. The ex-dividend date was Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada’s dividend payout ratio is currently 23.01%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FNV shares. Weiss Ratings upgraded shares of Franco-Nevada from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Bank of America cut their target price on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. Royal Bank Of Canada raised their price objective on Franco-Nevada from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Zacks Research upgraded Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Scotiabank decreased their target price on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $267.80.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from their assets. Its portfolio includes royalties, streams and other interests tied primarily to gold, as well as silver, platinum group metals, base metals and energy assets.

The company’s business model provides exposure to commodity production while generally limiting its direct responsibility for mine development, operating costs and capital expenditures.