Corient Private Wealth LLC Sells 4,641 Shares of Franco-Nevada Corporation $FNV

Corient Private Wealth LLC lowered its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,111 shares of the basic materials company’s stock after selling 4,641 shares during the period. Corient Private Wealth LLC owned approximately 0.11% of Franco-Nevada worth $34,605,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Franco-Nevada during the 2nd quarter valued at $460,218,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Franco-Nevada by 35.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock valued at $528,289,000 after buying an additional 838,853 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Franco-Nevada during the second quarter valued at $80,621,000. Scharf Investments LLC bought a new stake in Franco-Nevada in the 2nd quarter worth about $78,509,000. Finally, Invesco Ltd. raised its position in Franco-Nevada by 110.6% in the 2nd quarter. Invesco Ltd. now owns 902,017 shares of the basic materials company’s stock worth $147,859,000 after buying an additional 473,697 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of recent analyst reports. HC Wainwright raised their price target on shares of Franco-Nevada from $200.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Royal Bank Of Canada upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $225.00 to $250.00 in a research note on Wednesday, December 10th. Bank of America raised their price target on Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.75.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $209.43 on Wednesday. Franco-Nevada Corporation has a 1-year low of $114.81 and a 1-year high of $225.63. The company’s fifty day simple moving average is $199.40 and its 200-day simple moving average is $186.59. The stock has a market capitalization of $40.37 billion, a PE ratio of 43.90, a P/E/G ratio of 1.64 and a beta of 0.46.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Monday, November 3rd. The basic materials company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. The company had revenue of $487.70 million for the quarter, compared to analysts’ expectations of $448.51 million. Franco-Nevada had a return on equity of 13.94% and a net margin of 59.48%.Franco-Nevada’s revenue for the quarter was up 76.9% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. As a group, research analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

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

Franco-Nevada Company 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.