PensionDanmark Pensionsforsikringsaktieselskab Purchases 5,000 Shares of Franco-Nevada Corporation $FNV

Key Points

• PensionDanmark increased its Franco-Nevada stake by 13.8% in the second quarter, purchasing 5,000 additional shares and bringing its holdings to 41,319 shares valued at approximately $8.6 million.
• Analyst sentiment remains broadly positive, with 11 Buy ratings, three Holds and one Sell; the stock carries a “Moderate Buy” consensus and an average price target of $273.40.
• Franco-Nevada reported quarterly revenue growth of 76.6% and earnings of $2.38 per share, exceeding estimates, while maintaining a quarterly dividend of $0.44 per share.

PensionDanmark Pensionsforsikringsaktieselskab raised its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 13.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,319 shares of the basic materials company's stock after buying an additional 5,000 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Franco-Nevada were worth $8,619,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FNV. Transamerica Financial Advisors LLC bought a new position in Franco-Nevada during the 4th quarter worth $25,000. Private Trust Co. NA bought a new stake in shares of Franco-Nevada during the 4th quarter valued at $29,000. Ascentis Independent Advisors bought a new stake in shares of Franco-Nevada during the 1st quarter valued at $39,000. Navalign LLC acquired a new stake in shares of Franco-Nevada during the 4th quarter worth $34,000. Finally, Quattro Advisors LLC acquired a new stake in shares of Franco-Nevada during the 4th quarter worth $36,000. Institutional investors own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FNV. Jefferies Financial Group dropped their target price on shares of Franco-Nevada from $258.00 to $245.00 and set a "hold" rating for the company in a research report on Monday, July 6th. TD Securities upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating and set a $291.00 price target on the stock in a research report on Wednesday, May 20th. Royal Bank Of Canada decreased their price objective on shares of Franco-Nevada from $295.00 to $285.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. National Bank Financial upgraded Franco-Nevada from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings downgraded Franco-Nevada from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 8th. Eleven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Franco-Nevada has an average rating of "Moderate Buy" and an average target price of $273.40.

Franco-Nevada Stock Performance

Shares of FNV opened at $238.69 on Friday. Franco-Nevada Corporation has a 52 week low of $165.59 and a 52 week high of $285.67. The stock has a market capitalization of $46.04 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 2.01 and a beta of 0.35. The stock has a fifty day moving average of $214.97 and a 200-day moving average of $235.87.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.09 by $0.29. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business had revenue of $650.70 million for the quarter, compared to analyst estimates of $634.43 million. During the same quarter in the previous year, the company posted $1.07 EPS. Franco-Nevada's quarterly revenue was up 76.6% compared to the same quarter last year. As a group, equities analysts forecast that Franco-Nevada Corporation will post 8.23 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, June 11th. 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.

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