Assenagon Asset Management S.A. Sells 1,618 Shares of Franco-Nevada Corporation (NYSE:FNV)

Assenagon Asset Management S.A. lessened its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 21.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,910 shares of the basic materials company's stock after selling 1,618 shares during the period. Assenagon Asset Management S.A.'s holdings in Franco-Nevada were worth $929,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nexus Investment Management ULC bought a new stake in Franco-Nevada during the 1st quarter worth about $35,000. Physician Wealth Advisors Inc. acquired a new position in shares of Franco-Nevada during the fourth quarter worth approximately $49,000. Harbour Investments Inc. grew its stake in shares of Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 93 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Franco-Nevada during the first quarter valued at approximately $55,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Franco-Nevada by 538.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 607 shares of the basic materials company's stock valued at $71,000 after purchasing an additional 512 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Trading Down 1.3%

Shares of FNV stock traded down $2.23 on Friday, reaching $165.98. The company had a trading volume of 990,373 shares, compared to its average volume of 740,562. The stock has a market cap of $31.98 billion, a PE ratio of 51.87, a PEG ratio of 2.34 and a beta of 0.42. The company has a 50-day moving average of $168.08 and a 200-day moving average of $147.55. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $179.99.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. The firm had revenue of $368.40 million during the quarter, compared to the consensus estimate of $328.79 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The business's quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. Sell-side analysts anticipate that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, June 12th. Franco-Nevada's payout ratio is presently 47.50%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FNV shares. Wall Street Zen raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. UBS Group boosted their target price on Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a report on Wednesday, April 23rd. BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Finally, Royal Bank Of Canada boosted their price objective on Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $169.63.

About Franco-Nevada

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.