Franco-Nevada Corporation $FNV Stake Trimmed by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 10.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,299 shares of the basic materials company’s stock after selling 611 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Franco-Nevada were worth $868,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of FNV. CX Institutional purchased a new position in Franco-Nevada during the 1st quarter valued at about $30,000. Cullen Frost Bankers Inc. purchased a new position in Franco-Nevada during the 1st quarter valued at about $32,000. Golden State Wealth Management LLC grew its stake in Franco-Nevada by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 115 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in Franco-Nevada by 494.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 188 shares in the last quarter. Finally, Versant Capital Management Inc purchased a new position in Franco-Nevada during the 1st quarter valued at about $55,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

FNV opened at $217.45 on Friday. The business has a 50 day moving average price of $184.13 and a 200 day moving average price of $170.30. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $218.58. The firm has a market cap of $41.90 billion, a P/E ratio of 53.43, a price-to-earnings-growth ratio of 2.85 and a beta of 0.41.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.14. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The firm had revenue of $369.40 million during the quarter, compared to analyst estimates of $382.70 million. During the same period in the previous year, the company earned $0.75 EPS. The company’s revenue for the quarter was up 42.0% on a year-over-year basis. As a group, analysts anticipate that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, September 11th. Franco-Nevada’s payout ratio is 37.35%.

Wall Street Analysts Forecast Growth

FNV has been the topic of several research analyst reports. TD Securities lifted their target price on Franco-Nevada from $182.00 to $184.00 and gave the company a “hold” rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Royal Bank Of Canada lifted their price target on Franco-Nevada from $160.00 to $190.00 and gave the company a “sector perform” rating in a report on Wednesday, June 4th. Zacks Research lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.63.

About Franco-Nevada

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.