Deutsche Bank AG bought a new position in Franco-Nevada Corporation (NYSE:FNV – Free Report) (TSE:FNV) during the second quarter, according to its most recent filing with the SEC. The firm bought 1,786,773 shares of the basic materials company’s stock, valued at approximately $372,435,000. Deutsche Bank AG owned approximately 0.93% of Franco-Nevada as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Trust Co. of Vermont bought a new position in shares of Franco-Nevada in the second quarter valued at approximately $321,000. Capital Financial Group Inc. Co. ADV purchased a new position in shares of Franco-Nevada in the 2nd quarter worth about $325,000. Plato Investment Management Ltd bought a new position in shares of Franco-Nevada during the 2nd quarter valued at approximately $1,097,000. Simplicity Wealth LLC bought a new position in Franco-Nevada during the second quarter valued at $311,000. Finally, J.Safra Asset Management Corp bought a new position in shares of Franco-Nevada during the 2nd quarter worth $386,000. Institutional investors own 77.06% of the company’s stock.
Analyst Upgrades and Downgrades
FNV has been the subject of a number of recent research reports. Scotiabank reduced their price objective on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Zacks Research upgraded shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 13th. HC Wainwright reissued a “buy” rating and set a $305.00 price target on shares of Franco-Nevada in a research note on Wednesday, May 13th. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $273.40.
Franco-Nevada Stock Performance
Franco-Nevada stock opened at $238.49 on Tuesday. The stock’s 50 day simple moving average is $216.17 and its two-hundred day simple moving average is $234.98. The stock has a market cap of $46.00 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 2.14 and a beta of 0.35. Franco-Nevada Corporation has a fifty-two week low of $173.39 and a fifty-two week high of $285.67.
Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last announced its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). The firm had revenue of $580.90 million for the quarter, compared to analysts’ expectations of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The business’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 EPS. On average, analysts predict that Franco-Nevada Corporation will post 7.6 earnings per share for the current year.
Franco-Nevada Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, September 10th. Franco-Nevada’s dividend payout ratio (DPR) is 23.01%.
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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