Erste Asset Management GmbH Grows Stock Holdings in Franco-Nevada Corporation $FNV

Erste Asset Management GmbH increased its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 2,045.5% in the third quarter, HoldingsChannel.com reports. The firm owned 4,720 shares of the basic materials company’s stock after acquiring an additional 4,500 shares during the quarter. Erste Asset Management GmbH’s holdings in Franco-Nevada were worth $1,082,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FNV. MTM Investment Management LLC purchased a new stake in Franco-Nevada during the 2nd quarter worth about $32,000. Smartleaf Asset Management LLC increased its holdings in shares of Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of Franco-Nevada by 78.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 90 shares in the last quarter. CENTRAL TRUST Co lifted its stake in Franco-Nevada by 590.9% during the second quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 195 shares during the last quarter. Finally, City Holding Co. purchased a new stake in Franco-Nevada during the third quarter worth approximately $56,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

Shares of NYSE:FNV opened at $280.83 on Monday. Franco-Nevada Corporation has a 1-year low of $138.59 and a 1-year high of $284.50. The stock has a market cap of $54.14 billion, a P/E ratio of 58.87, a P/E/G ratio of 3.73 and a beta of 0.45. The firm has a fifty day moving average price of $240.67 and a 200 day moving average price of $214.01.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.6%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, March 12th. Franco-Nevada’s payout ratio is currently 31.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Zacks Research lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a research report on Sunday, December 7th. Scotiabank lifted their price target on shares of Franco-Nevada from $225.00 to $283.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Canaccord Genuity Group downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $254.38.

Franco-Nevada Company 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.