DekaBank Deutsche Girozentrale Increases Holdings in Franco-Nevada Corporation (NYSE:FNV)

DekaBank Deutsche Girozentrale lifted its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 8.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,161 shares of the basic materials company’s stock after buying an additional 5,319 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Franco-Nevada were worth $11,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. CX Institutional bought a new stake in shares of Franco-Nevada during the 1st quarter valued at $30,000. Nexus Investment Management ULC purchased a new position in Franco-Nevada during the first quarter valued at $35,000. Hexagon Capital Partners LLC lifted its position in Franco-Nevada by 494.7% during the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 188 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Franco-Nevada by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 115 shares during the period. Finally, Versant Capital Management Inc purchased a new stake in Franco-Nevada in the first quarter worth about $55,000. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $159.06 on Friday. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $179.99. The firm’s 50 day moving average price is $166.04 and its 200-day moving average price is $151.57. The stock has a market cap of $30.64 billion, a P/E ratio of 49.71, a PEG ratio of 2.18 and a beta of 0.41.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. The company had revenue of $368.40 million for the quarter, compared to the consensus estimate of $328.79 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. Franco-Nevada’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 EPS. As a group, equities analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a $0.38 dividend. The ex-dividend date was Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.96%. Franco-Nevada’s dividend payout ratio (DPR) is 47.50%.

Wall Street Analysts Forecast Growth

FNV has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $195.00 price objective (up previously from $180.00) on shares of Franco-Nevada in a research note on Wednesday, May 28th. Scotiabank raised their target price on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, May 12th. National Bankshares reiterated a “sector perform” rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. BMO Capital Markets restated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Finally, UBS Group lifted their target price on shares of Franco-Nevada from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $172.13.

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.