Deutsche Bank AG trimmed its holdings in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 42.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 964,283 shares of the basic materials company’s stock after selling 696,944 shares during the period. Deutsche Bank AG owned approximately 0.52% of Franco Nevada worth $77,091,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in FNV. Advisors Asset Management Inc. lifted its stake in Franco Nevada by 453.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,922 shares of the basic materials company’s stock valued at $149,000 after acquiring an additional 1,575 shares during the period. American International Group Inc. acquired a new stake in Franco Nevada during the 4th quarter valued at approximately $197,000. Gratus Capital LLC acquired a new stake in Franco Nevada during the 3rd quarter valued at approximately $201,000. Cigna Investments Inc. New acquired a new stake in Franco Nevada during the 4th quarter valued at approximately $203,000. Finally, Lombard Odier Asset Management Europe Ltd acquired a new stake in Franco Nevada during the 4th quarter valued at approximately $237,000. Institutional investors and hedge funds own 63.37% of the company’s stock.
Franco Nevada Corp (NYSE FNV) opened at $68.69 on Tuesday. The firm has a market cap of $12,674.87, a P/E ratio of 63.12, a PEG ratio of 14.10 and a beta of -0.02. Franco Nevada Corp has a 1-year low of $60.57 and a 1-year high of $86.06.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Wednesday, March 14th. Franco Nevada’s dividend payout ratio (DPR) is 87.62%.
Several analysts have commented on the stock. TD Securities set a $96.00 price objective on shares of Franco Nevada and gave the company a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research cut shares of Franco Nevada from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Desjardins restated a “sell” rating on shares of Franco Nevada in a research note on Monday, December 11th. Raymond James Financial decreased their price objective on shares of Franco Nevada from $93.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, January 23rd. Finally, Credit Suisse Group set a $80.00 price objective on shares of Franco Nevada and gave the company a “hold” rating in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Franco Nevada currently has a consensus rating of “Hold” and an average price target of $88.00.
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Franco Nevada Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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