Amiral Gestion Acquires Shares of 16,000 Franco-Nevada Corporation $FNV

Amiral Gestion acquired a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,000 shares of the basic materials company’s stock, valued at approximately $3,567,000. Franco-Nevada accounts for about 1.3% of Amiral Gestion’s investment portfolio, making the stock its 17th biggest position.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. raised its holdings in Franco-Nevada by 8.4% in the 1st quarter. Raymond James Financial Inc. now owns 113,164 shares of the basic materials company’s stock valued at $17,830,000 after acquiring an additional 8,732 shares during the period. Northern Trust Corp boosted its holdings in shares of Franco-Nevada by 12.8% during the first quarter. Northern Trust Corp now owns 172,675 shares of the basic materials company’s stock worth $27,207,000 after acquiring an additional 19,580 shares during the period. Korea Investment CORP grew its position in shares of Franco-Nevada by 2.6% in the first quarter. Korea Investment CORP now owns 126,467 shares of the basic materials company’s stock valued at $19,888,000 after purchasing an additional 3,207 shares during the last quarter. Credit Agricole S A increased its stake in shares of Franco-Nevada by 28.8% during the first quarter. Credit Agricole S A now owns 5,785 shares of the basic materials company’s stock worth $911,000 after purchasing an additional 1,295 shares during the period. Finally, Summit Financial LLC bought a new position in shares of Franco-Nevada during the first quarter worth approximately $425,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

FNV has been the topic of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Franco-Nevada in a research note on Monday. Royal Bank Of Canada upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $225.00 to $250.00 in a research note on Wednesday, December 10th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a report on Sunday, December 7th. Bank of America boosted their price target on Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Finally, HC Wainwright raised their price objective on Franco-Nevada from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and an average target price of $232.75.

Franco-Nevada Stock Performance

Shares of FNV opened at $208.87 on Friday. Franco-Nevada Corporation has a 52 week low of $114.81 and a 52 week high of $225.63. The stock has a market capitalization of $40.27 billion, a price-to-earnings ratio of 43.79, a PEG ratio of 1.61 and a beta of 0.46. The stock has a fifty day moving average of $199.40 and a 200-day moving average of $186.89.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. Franco-Nevada had a return on equity of 13.94% and a net margin of 59.48%.The business had revenue of $487.70 million during the quarter, compared to analysts’ expectations of $448.51 million. During the same quarter in the prior year, the firm earned $0.80 EPS. The business’s revenue for the quarter was up 76.9% compared to the same quarter last year. As a group, equities analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, December 4th. Franco-Nevada’s payout ratio is 31.87%.

Franco-Nevada Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.