Franco-Nevada Corporation $FNV Shares Sold by Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.

Key Points

• Towarzystwo Funduszy Inwestycyjnych Allianz Polska reduced its Franco-Nevada stake by 39.1% in the second quarter, selling 4,500 shares and retaining 7,000 shares valued at approximately $1.46 million.
• Institutional ownership remains high at 77.06%, with several investors—including PensionDanmark and Assenagon Asset Management—adding to their positions during the quarter.
• Analysts maintain a consensus “Moderate Buy” rating with a $273.40 price target, although Franco-Nevada recently missed quarterly earnings and revenue estimates despite 57.3% year-over-year revenue growth.

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. lowered its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 39.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,000 shares of the basic materials company's stock after selling 4,500 shares during the quarter. Franco-Nevada comprises about 3.1% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s holdings, making the stock its 14th biggest holding. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s holdings in Franco-Nevada were worth $1,455,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Salvus Wealth Management LLC boosted its holdings in Franco-Nevada by 3.0% in the 2nd quarter. Salvus Wealth Management LLC now owns 5,470 shares of the basic materials company's stock valued at $1,140,000 after purchasing an additional 160 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Franco-Nevada in the 2nd quarter valued at approximately $422,000. PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in shares of Franco-Nevada by 13.8% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 41,319 shares of the basic materials company's stock worth $8,619,000 after buying an additional 5,000 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Franco-Nevada by 24.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,373 shares of the basic materials company's stock worth $1,746,000 after buying an additional 1,619 shares during the last quarter. Finally, Fermata Advisors LLC raised its position in shares of Franco-Nevada by 7.1% during the 2nd quarter. Fermata Advisors LLC now owns 1,020 shares of the basic materials company's stock valued at $213,000 after buying an additional 68 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FNV. Scotiabank lowered their price objective on Franco-Nevada from $290.00 to $274.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. HC Wainwright restated a "buy" rating and issued a $305.00 target price on shares of Franco-Nevada in a research report on Wednesday, May 13th. Wall Street Zen lowered Franco-Nevada from a "buy" rating to a "hold" rating in a research note on Monday, June 1st. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Wednesday, April 29th. Finally, Jefferies Financial Group cut their price objective on Franco-Nevada from $258.00 to $245.00 and set a "hold" rating for the company in a research report on Monday, July 6th. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $273.40.

Franco-Nevada Stock Performance

NYSE:FNV opened at $241.06 on Wednesday. Franco-Nevada Corporation has a fifty-two week low of $173.39 and a fifty-two week high of $285.67. The company has a 50 day moving average price of $215.32 and a 200 day moving average price of $235.65. The stock has a market capitalization of $46.49 billion, a P/E ratio of 33.95, a PEG ratio of 2.03 and a beta of 0.35.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). The firm had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The company's quarterly revenue was up 57.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 earnings per share. Research analysts forecast that Franco-Nevada Corporation will post 8.23 earnings per share for the current fiscal year.

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.

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