PensionDanmark Pensionsforsikringsaktieselskab Acquires 5,000 Shares of Franco-Nevada Corporation $FNV

PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 13.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,319 shares of the basic materials company’s stock after purchasing an additional 5,000 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Franco-Nevada were worth $8,619,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new position in Franco-Nevada during the 4th quarter worth about $578,577,000. First Eagle Investment Management LLC raised its position in shares of Franco-Nevada by 26.5% during the fourth quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock worth $1,062,037,000 after acquiring an additional 1,074,257 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Franco-Nevada by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock worth $1,542,402,000 after acquiring an additional 842,132 shares during the period. Capital Research Global Investors lifted its stake in shares of Franco-Nevada by 100.2% in the fourth quarter. Capital Research Global Investors now owns 1,277,889 shares of the basic materials company’s stock worth $264,882,000 after acquiring an additional 639,493 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Franco-Nevada by 30.7% in the fourth quarter. Deutsche Bank AG now owns 1,889,414 shares of the basic materials company’s stock valued at $391,638,000 after acquiring an additional 443,839 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Royal Bank Of Canada decreased their target price on shares of Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. HC Wainwright reaffirmed a “buy” rating and issued a $305.00 price objective on shares of Franco-Nevada in a research note on Wednesday, May 13th. TD upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. Jefferies Financial Group lowered their target price on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research note on Monday, July 6th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average target price of $273.40.

Franco-Nevada Stock Performance

Shares of FNV opened at $238.69 on Friday. Franco-Nevada Corporation has a 52-week low of $165.59 and a 52-week high of $285.67. The business’s 50 day moving average price is $214.97 and its two-hundred day moving average price is $235.87. The firm has a market cap of $46.04 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.01 and a beta of 0.35.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 EPS 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 the consensus estimate of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The company’s quarterly revenue was up 76.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. Research analysts predict that Franco-Nevada Corporation will post 8.23 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, June 11th. Franco-Nevada’s dividend payout ratio (DPR) is presently 24.79%.

About Franco-Nevada

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.