Franco-Nevada Co. (NYSE:FNV) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,064,430 shares of the basic materials company’s stock after selling 48,100 shares during the period. Victory Capital Management Inc. owned approximately 1.59% of Franco-Nevada worth $363,196,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FNV. Allspring Global Investments Holdings LLC acquired a new position in shares of Franco-Nevada in the 2nd quarter worth approximately $276,446,000. Norges Bank acquired a new position in shares of Franco-Nevada in the 4th quarter worth approximately $221,351,000. M&G Plc acquired a new position in shares of Franco-Nevada in the 1st quarter worth approximately $219,971,000. Capital World Investors grew its stake in shares of Franco-Nevada by 45.8% in the 4th quarter. Capital World Investors now owns 4,477,105 shares of the basic materials company’s stock worth $495,909,000 after purchasing an additional 1,405,731 shares during the last quarter. Finally, EdgePoint Investment Group Inc. grew its stake in shares of Franco-Nevada by 68.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock worth $328,972,000 after purchasing an additional 1,117,523 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

FNV has been the subject of several recent analyst reports. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Bank of America raised their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. HC Wainwright reiterated a “buy” rating and issued a $185.00 target price on shares of Franco-Nevada in a report on Friday, August 16th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.75.

Franco-Nevada Price Performance

FNV opened at $119.46 on Friday. The firm’s fifty day moving average price is $123.35 and its two-hundred day moving average price is $120.17. The company has a market capitalization of $22.99 billion, a P/E ratio of -47.99, a P/E/G ratio of 20.73 and a beta of 0.74. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $145.82.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). The business had revenue of $260.10 million during the quarter, compared to analyst estimates of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The business’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same period last year, the business earned $0.95 earnings per share. On average, equities research analysts expect that Franco-Nevada Co. will post 3.2 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, September 12th. Franco-Nevada’s payout ratio is -57.83%.

About Franco-Nevada

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.