Mufg Securities Canada LTD. Sells 25,343 Shares of Franco-Nevada Corporation $FNV

Mufg Securities Canada LTD. lowered its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 293,527 shares of the basic materials company’s stock after selling 25,343 shares during the period. Franco-Nevada makes up 1.7% of Mufg Securities Canada LTD.’s holdings, making the stock its 19th biggest holding. Mufg Securities Canada LTD.’s holdings in Franco-Nevada were worth $60,858,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in shares of Franco-Nevada during the 4th quarter worth $578,577,000. First Eagle Investment Management LLC lifted its position in shares of Franco-Nevada by 26.5% during the 4th quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock worth $1,062,037,000 after buying an additional 1,074,257 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Franco-Nevada by 76.0% during the 3rd quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company’s stock worth $525,925,000 after buying an additional 1,020,509 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Franco-Nevada by 12.8% during the 4th quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock worth $1,542,402,000 after buying an additional 842,132 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Franco-Nevada by 100.2% during the 4th quarter. Capital Research Global Investors now owns 1,277,889 shares of the basic materials company’s stock worth $264,882,000 after buying an additional 639,493 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $209.68 on Monday. The firm has a market cap of $40.44 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 1.82 and a beta of 0.34. The firm’s fifty day moving average is $236.90 and its 200-day moving average is $236.11. Franco-Nevada Corporation has a 52 week low of $152.89 and a 52 week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.29. The business had revenue of $650.70 million during the quarter, compared to the consensus estimate of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.Franco-Nevada’s quarterly revenue was up 76.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 earnings per share. Sell-side analysts forecast that Franco-Nevada Corporation will post 8.85 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, June 11th. Franco-Nevada’s dividend payout ratio (DPR) is 24.79%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FNV. Wall Street Zen downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings downgraded Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. TD upgraded Franco-Nevada from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Finally, Zacks Research downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $271.00.

Franco-Nevada Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.