Franco-Nevada Corporation $FNV Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,842 shares of the basic materials company’s stock after selling 5,319 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Franco-Nevada were worth $10,682,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FNV. Cidel Asset Management Inc. increased its holdings in shares of Franco-Nevada by 10.4% during the 2nd quarter. Cidel Asset Management Inc. now owns 2,622 shares of the basic materials company’s stock valued at $430,000 after purchasing an additional 248 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in Franco-Nevada by 3.3% during the second quarter. Stratos Wealth Partners LTD. now owns 10,891 shares of the basic materials company’s stock valued at $1,785,000 after buying an additional 347 shares during the period. Aubrey Capital Management Ltd increased its holdings in Franco-Nevada by 3.4% in the second quarter. Aubrey Capital Management Ltd now owns 6,087 shares of the basic materials company’s stock valued at $984,000 after buying an additional 198 shares in the last quarter. TD Asset Management Inc raised its position in shares of Franco-Nevada by 4.4% in the second quarter. TD Asset Management Inc now owns 2,011,787 shares of the basic materials company’s stock worth $329,626,000 after acquiring an additional 85,117 shares during the period. Finally, Kiker Wealth Management LLC raised its position in shares of Franco-Nevada by 20.5% in the second quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 80 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FNV. Zacks Research upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Weiss Ratings downgraded Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Scotiabank boosted their price objective on Franco-Nevada from $184.00 to $225.00 and gave the company a “sector perform” rating in a research report on Thursday. Raymond James Financial upped 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. Finally, Wall Street Zen cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $216.14.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $191.22 on Friday. The stock has a market capitalization of $36.85 billion, a P/E ratio of 46.98, a PEG ratio of 1.75 and a beta of 0.42. The business has a 50 day simple moving average of $200.60 and a two-hundred day simple moving average of $177.51. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $225.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $382.70 million. During the same period in the previous year, the company posted $0.75 earnings per share. The business’s revenue was up 42.0% on a year-over-year basis. As a group, research analysts anticipate 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, September 25th. Stockholders of record on Thursday, September 11th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, September 11th. Franco-Nevada’s dividend payout ratio is 37.35%.

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.