Groupama Asset Managment Has $57.87 Million Holdings in Franco-Nevada Corporation $FNV

Groupama Asset Managment boosted its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 26.9% in the first quarter, HoldingsChannel reports. The firm owned 234,241 shares of the basic materials company’s stock after acquiring an additional 49,600 shares during the period. Groupama Asset Managment’s holdings in Franco-Nevada were worth $57,869,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Addenda Capital Inc. raised its position in shares of Franco-Nevada by 88.1% in the 4th quarter. Addenda Capital Inc. now owns 203,643 shares of the basic materials company’s stock valued at $42,211,000 after acquiring an additional 95,405 shares during the period. Crescent Grove Advisors LLC bought a new position in Franco-Nevada during the 4th quarter worth approximately $489,000. PKO Investment Management Joint Stock Co grew its holdings in Franco-Nevada by 11.4% during the fourth quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company’s stock valued at $14,519,000 after purchasing an additional 7,150 shares during the period. Annex Advisory Services LLC grew its holdings in Franco-Nevada by 4.9% during the fourth quarter. Annex Advisory Services LLC now owns 199,972 shares of the basic materials company’s stock valued at $41,450,000 after purchasing an additional 9,336 shares during the period. Finally, Oxbow Advisors LLC increased its stake in Franco-Nevada by 76.0% in the fourth quarter. Oxbow Advisors LLC now owns 35,332 shares of the basic materials company’s stock valued at $7,324,000 after purchasing an additional 15,260 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Price Performance

FNV opened at $212.88 on Friday. The business’s 50-day moving average price is $215.05 and its two-hundred day moving average price is $236.28. Franco-Nevada Corporation has a 1 year low of $158.26 and a 1 year high of $285.67. The company has a market capitalization of $41.06 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 1.87 and a beta of 0.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.29. The company had revenue of $650.70 million during the quarter, compared to analysts’ expectations of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.Franco-Nevada’s revenue for the quarter was up 76.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. Sell-side analysts anticipate that Franco-Nevada Corporation will post 8.23 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 0.8%. Franco-Nevada’s payout ratio is presently 24.79%.

Analyst Ratings Changes

FNV has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $305.00 target price on shares of Franco-Nevada in a report on Wednesday, May 13th. UBS Group decreased their price target on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Jefferies Financial Group lowered their price objective 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. Finally, Scotiabank dropped their price objective on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.40.

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.