Amundi Purchases 257,996 Shares of Franco-Nevada Corporation $FNV

Key Points

• Amundi increased its holdings in Franco-Nevada Corporation by 29.3% in the first quarter, acquiring an additional 257,996 shares, raising their total to 1,137,345 shares valued at approximately $180.5 million.
• Franco-Nevada's recent quarterly earnings report revealed an earnings per share (EPS) of $1.24, exceeding analyst estimates, and revenue of $369.4 million despite missing expectations of $382.7 million.
• The company announced a quarterly dividend of $0.38 per share, which will be paid on September 25th, representing an annualized yield of 0.8% with a payout ratio of 37.35%.

Amundi raised its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 29.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,137,345 shares of the basic materials company's stock after buying an additional 257,996 shares during the period. Amundi owned approximately 0.59% of Franco-Nevada worth $180,519,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in shares of Franco-Nevada by 1.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company's stock worth $1,923,400,000 after acquiring an additional 207,232 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Franco-Nevada by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,845,339 shares of the basic materials company's stock valued at $1,233,891,000 after buying an additional 45,924 shares during the period. EdgePoint Investment Group Inc. boosted its position in shares of Franco-Nevada by 49.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock valued at $582,100,000 after purchasing an additional 1,650,358 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Franco-Nevada by 1.7% during the first quarter. The Manufacturers Life Insurance Company now owns 1,980,772 shares of the basic materials company's stock worth $313,071,000 after purchasing an additional 33,044 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of Franco-Nevada by 6.8% in the 1st quarter. TD Asset Management Inc now owns 1,926,670 shares of the basic materials company's stock valued at $302,979,000 after acquiring an additional 122,071 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FNV shares. Royal Bank Of Canada boosted their price target on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Raymond James Financial raised their price target on shares of Franco-Nevada from $186.00 to $188.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. UBS Group raised their price target on Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. BMO Capital Markets reissued an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Finally, TD Securities upped their target price on Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $178.88.

Franco-Nevada Trading Up 1.0%

FNV traded up $2.03 on Wednesday, reaching $198.18. The stock had a trading volume of 488,518 shares, compared to its average volume of 815,781. The company has a market capitalization of $38.19 billion, a price-to-earnings ratio of 48.67, a price-to-earnings-growth ratio of 2.63 and a beta of 0.41. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $198.45. The firm has a 50-day moving average of $171.81 and a 200-day moving average of $164.49.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, beating 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 quarter in the previous year, the company posted $0.75 EPS. The business's revenue was up 42.0% on a year-over-year basis. Sell-side analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, September 11th. This represents a $1.52 annualized dividend and a yield of 0.8%. Franco-Nevada's dividend payout ratio (DPR) is 37.35%.

Franco-Nevada Company 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.