DekaBank Deutsche Girozentrale increased its stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 8.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,161 shares of the basic materials company's stock after buying an additional 5,319 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Franco-Nevada were worth $11,231,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of FNV. Bessemer Group Inc. raised its position in Franco-Nevada by 1,583.3% in the 1st quarter. Bessemer Group Inc. now owns 13,130 shares of the basic materials company's stock valued at $2,067,000 after purchasing an additional 12,350 shares during the last quarter. St. James Investment Company LLC raised its position in Franco-Nevada by 29.3% in the 1st quarter. St. James Investment Company LLC now owns 219,988 shares of the basic materials company's stock valued at $34,661,000 after purchasing an additional 49,907 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Franco-Nevada by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company's stock valued at $49,702,000 after purchasing an additional 16,029 shares during the last quarter. D.A. Davidson & CO. bought a new position in Franco-Nevada in the 1st quarter valued at $265,000. Finally, Fullcircle Wealth LLC raised its position in Franco-Nevada by 25.7% in the 1st quarter. Fullcircle Wealth LLC now owns 8,964 shares of the basic materials company's stock valued at $1,531,000 after purchasing an additional 1,835 shares during the last quarter. Institutional investors own 77.06% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on FNV. Scotiabank lifted their price objective on Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. Raymond James Financial set a $186.00 target price on Franco-Nevada and gave the company an "outperform" rating in a research note on Wednesday, May 28th. BMO Capital Markets reissued an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Finally, Wall Street Zen raised Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $172.13.
Read Our Latest Stock Report on FNV
Franco-Nevada Trading Down 0.7%
Shares of Franco-Nevada stock traded down $1.11 during trading on Monday, reaching $158.51. The stock had a trading volume of 507,620 shares, compared to its average volume of 751,524. The company has a market capitalization of $30.54 billion, a price-to-earnings ratio of 49.53, a P/E/G ratio of 2.19 and a beta of 0.41. The stock has a fifty day moving average price of $165.94 and a two-hundred day moving average price of $152.31. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $179.99.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.07. The company had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. Franco-Nevada had a return on equity of 11.40% and a net margin of 50.39%. The company's quarterly revenue was up 43.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 earnings per share. On average, equities analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.
Franco-Nevada Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a $0.38 dividend. The ex-dividend date was Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.96%. Franco-Nevada's dividend payout ratio (DPR) is 47.50%.
Franco-Nevada Company Profile
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Free Report)
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.
Further Reading

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