Beacon Pointe Advisors LLC Sells 4,163 Shares of Franco-Nevada Corporation $FNV

Beacon Pointe Advisors LLC lessened its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 8.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,863 shares of the basic materials company’s stock after selling 4,163 shares during the period. Beacon Pointe Advisors LLC’s holdings in Franco-Nevada were worth $7,518,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Franco-Nevada in the 2nd quarter valued at $460,218,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Franco-Nevada by 198.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company’s stock valued at $268,280,000 after acquiring an additional 1,133,373 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Franco-Nevada by 35.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock worth $528,289,000 after purchasing an additional 838,853 shares during the period. Picton Mahoney Asset Management bought a new stake in Franco-Nevada during the 2nd quarter worth about $80,621,000. Finally, Scharf Investments LLC acquired a new position in Franco-Nevada during the 2nd quarter valued at about $78,509,000. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Down 2.0%

FNV opened at $203.09 on Wednesday. The stock has a market cap of $39.15 billion, a P/E ratio of 42.58, a P/E/G ratio of 1.60 and a beta of 0.46. Franco-Nevada Corporation has a 12 month low of $114.81 and a 12 month high of $225.63. The company has a fifty day simple moving average of $201.67 and a 200 day simple moving average of $183.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. Franco-Nevada had a return on equity of 13.94% and a net margin of 59.48%.The firm had revenue of $487.70 million during the quarter, compared to analysts’ expectations of $448.51 million. During the same period in the previous year, the firm earned $0.80 earnings per share. The company’s revenue was up 76.9% on a year-over-year basis. On average, equities research analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, December 4th. Franco-Nevada’s dividend payout ratio is presently 31.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Zacks Research upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. TD Securities cut their price target on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Raymond James Financial lifted their price objective on Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Franco-Nevada in a report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $224.86.

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.