Groupama Asset Managment Sells 89,880 Shares of Franco-Nevada Corporation $FNV

Groupama Asset Managment decreased its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 32.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 185,601 shares of the basic materials company’s stock after selling 89,880 shares during the period. Groupama Asset Managment’s holdings in Franco-Nevada were worth $41,372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Burkett Financial Services LLC purchased a new position in shares of Franco-Nevada during the 3rd quarter valued at about $28,000. Smartleaf Asset Management LLC increased its holdings in Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 168 shares in the last quarter. City Holding Co. bought a new stake in Franco-Nevada during the 3rd quarter worth approximately $56,000. Montag A & Associates Inc. lifted its holdings in Franco-Nevada by 150.0% during the third quarter. Montag A & Associates Inc. now owns 250 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 150 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Franco-Nevada by 19.6% during the third quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $243.05 on Thursday. Franco-Nevada Corporation has a 1 year low of $140.03 and a 1 year high of $285.67. The firm’s 50 day moving average price is $252.80 and its 200-day moving average price is $220.89. The stock has a market cap of $46.86 billion, a P/E ratio of 42.20, a PEG ratio of 3.70 and a beta of 0.45.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.18. The firm had revenue of $597.30 million during the quarter, compared to analyst estimates of $542.02 million. Franco-Nevada had a net margin of 61.01% and a return on equity of 15.62%. Franco-Nevada’s revenue for the quarter was up 86.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. As a group, equities analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued a dividend of $0.44 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. Franco-Nevada’s payout ratio is currently 30.56%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FNV. UBS Group reissued a “buy” rating and issued a $310.00 price objective on shares of Franco-Nevada in a research note on Friday, January 30th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Zacks Research raised shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. HC Wainwright increased their price target on Franco-Nevada from $285.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Finally, Scotiabank boosted their price objective on Franco-Nevada from $283.00 to $286.00 and gave the company a “sector perform” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $257.25.

Franco-Nevada Company 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.