Deutsche Bank AG Acquires New Holdings in Franco-Nevada Corporation $FNV

Deutsche Bank AG bought a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 1,786,773 shares of the basic materials company’s stock, valued at approximately $372,435,000.

Other large investors have also recently made changes to their positions in the company. Trust Co. of Vermont purchased a new position in shares of Franco-Nevada during the 2nd quarter valued at $321,000. Capital Financial Group Inc. Co. ADV bought a new position in Franco-Nevada during the second quarter valued at $325,000. Plato Investment Management Ltd bought a new position in shares of Franco-Nevada in the 2nd quarter valued at about $1,097,000. Simplicity Wealth LLC purchased a new position in shares of Franco-Nevada in the 2nd quarter worth approximately $311,000. Finally, J.Safra Asset Management Corp purchased a new position in Franco-Nevada during the second quarter worth $386,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FNV. Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective on the stock in a research report on Wednesday, May 20th. UBS Group cut their price target on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. Finally, National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.40.

Franco-Nevada Price Performance

FNV opened at $238.49 on Tuesday. The firm has a fifty day moving average price of $216.17 and a 200 day moving average price of $234.98. The stock has a market cap of $46.00 billion, a P/E ratio of 31.18, a P/E/G ratio of 2.14 and a beta of 0.35. Franco-Nevada Corporation has a 1 year low of $173.39 and a 1 year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The business had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. Franco-Nevada’s revenue was up 57.3% on a year-over-year basis. During the same quarter last year, the business earned $1.24 earnings per share. Equities analysts expect that Franco-Nevada Corporation will post 7.6 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a $0.44 dividend. The ex-dividend date is Thursday, September 10th. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. Franco-Nevada’s dividend payout ratio (DPR) is 23.01%.

About Franco-Nevada

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.