Groupama Asset Managment Purchases 49,600 Shares of Franco-Nevada Corporation $FNV

Groupama Asset Managment raised its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 26.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 234,241 shares of the basic materials company’s stock after buying an additional 49,600 shares during the period. Groupama Asset Managment owned about 0.12% of Franco-Nevada worth $57,869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC acquired a new position in Franco-Nevada in the first quarter worth $241,000. NewEdge Advisors LLC grew its holdings in shares of Franco-Nevada by 16.7% during the first quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock worth $1,038,000 after purchasing an additional 943 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Franco-Nevada by 118.3% in the first quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock valued at $1,460,000 after buying an additional 5,032 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Franco-Nevada by 800.0% in the first quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock valued at $424,000 after buying an additional 2,400 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Franco-Nevada in the second quarter valued at about $1,477,000. Institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FNV shares. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. TD raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and dropped their target price for the stock from $292.00 to $291.00 in a research note on Wednesday, May 20th. Zacks Research downgraded shares of Franco-Nevada from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. HC Wainwright reiterated a “buy” rating and set a $305.00 target price on shares of Franco-Nevada in a research report on Wednesday, May 13th. Finally, Scotiabank decreased their price target on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $273.40.

Franco-Nevada Trading Down 3.8%

Franco-Nevada stock opened at $212.88 on Friday. The company has a market cap of $41.06 billion, a PE ratio of 29.98, a PEG ratio of 1.87 and a beta of 0.36. Franco-Nevada Corporation has a 1 year low of $158.26 and a 1 year high of $285.67. The company’s 50-day moving average is $215.05 and its two-hundred day moving average is $236.28.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.09 by $0.29. The company had revenue of $650.70 million during the quarter, compared to analysts’ expectations of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. Franco-Nevada’s revenue was up 76.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.07 EPS. Research analysts forecast that Franco-Nevada Corporation will post 8.23 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is presently 24.79%.

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.