DekaBank Deutsche Girozentrale cut its stake in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 14.2% during the 1st quarter, Holdings Channel reports. The fund owned 5,948 shares of the basic materials company’s stock after selling 988 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Franco Nevada were worth $389,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in Franco Nevada by 38.4% in the first quarter. Wells Fargo & Company MN now owns 38,395 shares of the basic materials company’s stock valued at $2,882,000 after buying an additional 10,648 shares during the period. Hutner Capital Management Inc. lifted its stake in Franco Nevada by 42.7% in the first quarter. Hutner Capital Management Inc. now owns 11,638 shares of the basic materials company’s stock valued at $873,000 after buying an additional 3,480 shares during the period. Advisor Group Inc. lifted its stake in Franco Nevada by 19.6% in the first quarter. Advisor Group Inc. now owns 7,758 shares of the basic materials company’s stock valued at $581,000 after buying an additional 1,270 shares during the period. Signaturefd LLC lifted its stake in Franco Nevada by 46.5% in the first quarter. Signaturefd LLC now owns 1,408 shares of the basic materials company’s stock valued at $106,000 after buying an additional 447 shares during the period. Finally, Royce & Associates LP lifted its stake in Franco Nevada by 2.5% in the first quarter. Royce & Associates LP now owns 341,894 shares of the basic materials company’s stock valued at $25,659,000 after buying an additional 8,400 shares during the period. Institutional investors and hedge funds own 65.49% of the company’s stock.

Shares of NYSE:FNV opened at $78.24 on Friday. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.03. Franco Nevada Corp has a twelve month low of $58.26 and a twelve month high of $79.00. The company has a market cap of $14.43 billion, a PE ratio of 65.87, a PEG ratio of 14.74 and a beta of 0.03.

Franco Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, May 8th. The basic materials company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.07. Franco Nevada had a return on equity of 4.64% and a net margin of 21.16%. The company had revenue of $179.80 million for the quarter, compared to analyst estimates of $166.15 million. Equities analysts predict that Franco Nevada Corp will post 1.31 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from Franco Nevada’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Wednesday, June 12th. Franco Nevada’s dividend payout ratio is presently 85.47%.

Several brokerages have issued reports on FNV. Royal Bank of Canada lowered Franco Nevada from an “outperform” rating to a “sector perform” rating and set a $75.54 price target on the stock. in a research note on Wednesday, May 22nd. Barclays lowered Franco Nevada from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $74.00 to $73.00 in a research note on Tuesday, April 9th. TD Securities dropped their price target on Franco Nevada from $93.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Deutsche Bank boosted their price target on Franco Nevada from $73.50 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Finally, Raymond James reaffirmed an “outperform” rating and set a $88.00 target price on shares of Franco Nevada in a research report on Thursday, March 21st. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $83.93.

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Franco Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.

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Institutional Ownership by Quarter for Franco Nevada (NYSE:FNV)

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