Pictet Asset Management Holding SA Purchases 40,548 Shares of Franco-Nevada Corporation $FNV

Pictet Asset Management Holding SA boosted its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 54.3% during the second quarter, Holdings Channel reports. The institutional investor owned 115,228 shares of the basic materials company’s stock after acquiring an additional 40,548 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Franco-Nevada were worth $24,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Crescent Grove Advisors LLC bought a new position in shares of Franco-Nevada during the 4th quarter worth about $489,000. PKO Investment Management Joint Stock Co increased its stake in Franco-Nevada by 11.4% in 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 acquiring an additional 7,150 shares during the period. 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 acquiring an additional 15,260 shares during the period. Bank of Nova Scotia raised its position in Franco-Nevada by 5.1% in the first quarter. Bank of Nova Scotia now owns 485,345 shares of the basic materials company’s stock worth $120,146,000 after purchasing an additional 23,587 shares in the last quarter. Finally, Moran Wealth Management LLC raised its position in Franco-Nevada by 26.7% in the fourth quarter. Moran Wealth Management LLC now owns 10,457 shares of the basic materials company’s stock worth $2,168,000 after purchasing an additional 2,203 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FNV. HC Wainwright reaffirmed a “buy” rating and set a $305.00 price objective on shares of Franco-Nevada in a report on Wednesday, May 13th. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. Scotiabank cut their target price on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Wall Street Zen downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Jefferies Financial Group decreased their price target on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.40.

Franco-Nevada Price Performance

FNV opened at $234.50 on Friday. Franco-Nevada Corporation has a one year low of $173.39 and a one year high of $285.67. The company’s 50 day simple moving average is $215.69 and its 200-day simple moving average is $235.31. The stock has a market capitalization of $45.23 billion, a P/E ratio of 30.65, a price-to-earnings-growth ratio of 1.95 and a beta of 0.35.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The company had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. During the same period in the prior year, the business earned $1.24 EPS. The business’s revenue for the quarter was up 57.3% on a year-over-year basis. As a group, analysts anticipate that Franco-Nevada Corporation will post 8.23 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, September 10th. Franco-Nevada’s dividend payout ratio (DPR) is presently 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.