Waverton Investment Management Ltd Sells 6,600 Shares of Franco-Nevada Co. (NYSE:FNV)

Waverton Investment Management Ltd decreased its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 55.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,254 shares of the basic materials company’s stock after selling 6,600 shares during the period. Waverton Investment Management Ltd’s holdings in Franco-Nevada were worth $623,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Meixler Investment Management Ltd. grew its holdings in Franco-Nevada by 0.5% during the 2nd quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock valued at $2,543,000 after buying an additional 101 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Franco-Nevada by 0.5% in the second quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock valued at $2,272,000 after purchasing an additional 101 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in Franco-Nevada by 33.3% in the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 110 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Franco-Nevada by 6.9% in the first quarter. Gulf International Bank UK Ltd now owns 1,722 shares of the basic materials company’s stock worth $205,000 after purchasing an additional 111 shares during the last quarter. Finally, Primoris Wealth Advisors LLC raised its stake in Franco-Nevada by 4.7% during the second quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock valued at $293,000 after purchasing an additional 112 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on FNV shares. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Scotiabank boosted their price objective on Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. HC Wainwright reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Franco-Nevada in a research note on Friday, August 16th. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group increased their price target on Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a report on Friday, July 12th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $152.75.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $119.49 on Friday. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $145.82. The company has a market cap of $22.99 billion, a price-to-earnings ratio of -47.99, a PEG ratio of 20.73 and a beta of 0.74. The business’s 50 day moving average price is $123.35 and its 200-day moving average price is $120.17.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The business had revenue of $260.10 million during the quarter, compared to analysts’ expectations of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The business’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. Sell-side analysts predict that Franco-Nevada Co. will post 3.2 earnings per share for the current year.

Franco-Nevada Announces Dividend

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

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.