Amundi Raises Stake in Franco-Nevada Co. (NYSE:FNV)

Amundi raised its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 16.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 879,349 shares of the basic materials company’s stock after acquiring an additional 123,122 shares during the quarter. Amundi owned approximately 0.46% of Franco-Nevada worth $111,985,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FNV. Essex Financial Services Inc. lifted its position in shares of Franco-Nevada by 2.2% during the 4th quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock worth $458,000 after buying an additional 84 shares during the last quarter. Mutual Advisors LLC lifted its position in shares of Franco-Nevada by 4.0% during the 4th quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after buying an additional 96 shares during the last quarter. Sustainable Insight Capital Management LLC lifted its position in shares of Franco-Nevada by 2.7% during the 4th quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock worth $441,000 after buying an additional 100 shares during the last quarter. Huntington National Bank lifted its position in shares of Franco-Nevada by 7.4% during the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock worth $185,000 after buying an additional 102 shares during the last quarter. Finally, Blossom Wealth Management lifted its position in shares of Franco-Nevada by 3.9% during the 4th quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock worth $335,000 after buying an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of FNV opened at $142.62 on Tuesday. The stock has a market capitalization of $27.46 billion, a P/E ratio of -45.13, a P/E/G ratio of 9.78 and a beta of 0.73. The company’s fifty day moving average is $133.80 and its two-hundred day moving average is $127.30. Franco-Nevada Co. has a 1 year low of $111.98 and a 1 year high of $148.02.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. The company had revenue of $321.00 million for the quarter, compared to analysts’ expectations of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. Sell-side analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.07%. Franco-Nevada’s dividend payout ratio is -48.10%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $155.00 price objective on shares of Franco-Nevada in a research report on Tuesday, January 28th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Royal Bank of Canada lifted their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Finally, UBS Group started coverage on shares of Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price on the stock. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $146.71.

Franco-Nevada Profile

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.