Franco-Nevada Corporation $FNV Shares Sold by Aubrey Capital Management Ltd

Aubrey Capital Management Ltd lessened its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 36.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,870 shares of the basic materials company’s stock after selling 2,217 shares during the period. Aubrey Capital Management Ltd’s holdings in Franco-Nevada were worth $850,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FNV. AQR Capital Management LLC acquired a new position in shares of Franco-Nevada in the first quarter valued at approximately $241,000. NewEdge Advisors LLC grew its position in Franco-Nevada by 16.7% in the 1st quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock valued at $1,038,000 after buying an additional 943 shares during the last quarter. Intech Investment Management LLC increased its stake in Franco-Nevada by 118.3% in the 1st quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock valued at $1,460,000 after buying an additional 5,032 shares during the period. Acadian Asset Management LLC raised its position in Franco-Nevada by 800.0% during the 1st quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock worth $424,000 after buying an additional 2,400 shares during the last quarter. Finally, Voya Investment Management LLC purchased a new position in Franco-Nevada during the 1st quarter worth $249,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FNV has been the topic of a number of recent analyst reports. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Scotiabank boosted their target price on Franco-Nevada from $184.00 to $225.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Raymond James Financial increased their target price on Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Wall Street Zen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. Finally, Bank of America increased their price objective on Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $232.75.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $252.54 on Thursday. The firm’s 50-day moving average is $213.13 and its two-hundred day moving average is $196.43. Franco-Nevada Corporation has a 12-month low of $127.20 and a 12-month high of $258.29. The company has a market capitalization of $48.69 billion, a PE ratio of 52.94, a price-to-earnings-growth ratio of 1.43 and a beta of 0.48.

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. The firm had revenue of $487.70 million for the quarter, compared to analyst estimates 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 was up 76.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. On average, analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, December 4th. This represents a $1.52 annualized dividend and a yield of 0.6%. Franco-Nevada’s dividend payout ratio is 31.87%.

Franco-Nevada Company 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.