Groupama Asset Managment Cuts Holdings in Franco-Nevada Corporation $FNV

Groupama Asset Managment decreased its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 32.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,601 shares of the basic materials company’s stock after selling 89,880 shares during the period. Groupama Asset Managment owned about 0.10% of Franco-Nevada worth $41,372,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Burkett Financial Services LLC purchased a new stake in shares of Franco-Nevada during the third quarter valued at $28,000. Smartleaf Asset Management LLC raised its position in Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after buying an additional 168 shares during the last quarter. City Holding Co. bought a new position in Franco-Nevada during the 3rd quarter valued at about $56,000. Montag A & Associates Inc. lifted its stake in Franco-Nevada by 150.0% during the 3rd quarter. Montag A & Associates Inc. now owns 250 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 150 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Franco-Nevada by 19.6% during the 3rd quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock valued at $97,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Zacks Research upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Royal Bank Of Canada upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $225.00 to $250.00 in a report on Wednesday, December 10th. Scotiabank lifted their target price on shares of Franco-Nevada from $283.00 to $286.00 and gave the stock a “sector perform” rating in a research report on Monday. Canaccord Genuity Group lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Jefferies Financial Group reissued a “hold” rating and set a $228.00 price target on shares of Franco-Nevada in a report on Sunday, December 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus target price of $257.25.

Franco-Nevada Stock Down 4.6%

NYSE FNV opened at $243.05 on Thursday. The company has a 50-day moving average price of $252.80 and a 200-day moving average price of $220.89. Franco-Nevada Corporation has a 52 week low of $140.03 and a 52 week high of $285.67. The firm has a market capitalization of $46.86 billion, a P/E ratio of 42.20, a PEG ratio of 3.70 and a beta of 0.45.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.18. Franco-Nevada had a net margin of 61.01% and a return on equity of 15.62%. The company had revenue of $597.30 million during the quarter, compared to analyst estimates of $542.02 million. During the same period in the previous year, the business posted $0.95 earnings per share. The firm’s quarterly revenue was up 86.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, March 12th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s payout ratio is presently 30.56%.

Franco-Nevada 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.