Franco-Nevada Co. (NYSE:FNV) Stake Lessened by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 7.1% in the second quarter, Holdings Channel reports. The institutional investor owned 66,087 shares of the basic materials company’s stock after selling 5,074 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Franco-Nevada were worth $7,930,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. American Century Companies Inc. increased its stake in Franco-Nevada by 4.3% during the second quarter. American Century Companies Inc. now owns 209,192 shares of the basic materials company’s stock valued at $24,794,000 after purchasing an additional 8,600 shares during the last quarter. America First Investment Advisors LLC increased its stake in Franco-Nevada by 3.3% during the second quarter. America First Investment Advisors LLC now owns 155,048 shares of the basic materials company’s stock valued at $18,376,000 after purchasing an additional 5,008 shares during the last quarter. Andra AP fonden bought a new stake in Franco-Nevada during the second quarter valued at $5,096,000. PFG Investments LLC increased its stake in Franco-Nevada by 4.9% during the second quarter. PFG Investments LLC now owns 5,669 shares of the basic materials company’s stock valued at $672,000 after purchasing an additional 264 shares during the last quarter. Finally, Caprock Group LLC acquired a new position in shares of Franco-Nevada during the second quarter valued at $2,104,000. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Down 0.1 %

Shares of NYSE FNV opened at $124.97 on Tuesday. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $145.74. The company has a market capitalization of $24.05 billion, a price-to-earnings ratio of -50.20, a PEG ratio of 20.59 and a beta of 0.76. The firm has a 50-day moving average of $123.49 and a two-hundred day moving average of $120.99.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The business had revenue of $260.10 million during the quarter, compared to analyst estimates of $277.44 million. During the same period in the previous year, the company posted $0.95 earnings per share. Franco-Nevada’s revenue was down 21.2% compared to the same quarter last year. As a group, research analysts predict that Franco-Nevada Co. will post 3.2 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.44 annualized dividend and a yield of 1.15%. Franco-Nevada’s payout ratio is presently -57.83%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FNV shares. Scotiabank boosted their price target on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Bank of America boosted their price target on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, HC Wainwright reissued a “buy” rating and set a $185.00 price target on shares of Franco-Nevada in a report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.75.

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.