Allianz SE Increases Stock Holdings in Franco-Nevada Corporation $FNV

Allianz SE grew its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 21.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 18,203 shares of the basic materials company’s stock after purchasing an additional 3,270 shares during the quarter. Allianz SE’s holdings in Franco-Nevada were worth $4,053,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in FNV. AQR Capital Management LLC purchased a new stake in shares of Franco-Nevada in the 1st quarter worth $241,000. NewEdge Advisors LLC grew its holdings in Franco-Nevada by 16.7% during the first quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock valued at $1,038,000 after purchasing an additional 943 shares during the period. Intech Investment Management LLC increased its position in Franco-Nevada by 118.3% in the first quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock worth $1,460,000 after buying an additional 5,032 shares in the last quarter. Acadian Asset Management LLC increased its position in Franco-Nevada by 800.0% in the first quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock worth $424,000 after buying an additional 2,400 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Franco-Nevada by 37.2% in the second quarter. Envestnet Asset Management Inc. now owns 80,096 shares of the basic materials company’s stock worth $13,129,000 after buying an additional 21,708 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FNV shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. UBS Group reaffirmed a “buy” rating and set a $310.00 price target on shares of Franco-Nevada in a report on Friday, January 30th. Jefferies Financial Group reissued a “hold” rating and issued a $228.00 price objective on shares of Franco-Nevada in a research note on Sunday, December 7th. HC Wainwright lifted their target price on shares of Franco-Nevada from $210.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, Canaccord Genuity Group downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and an average price target of $254.38.

Franco-Nevada Price Performance

NYSE:FNV opened at $280.83 on Friday. The company has a market cap of $54.14 billion, a price-to-earnings ratio of 58.87, a PEG ratio of 1.40 and a beta of 0.47. Franco-Nevada Corporation has a 1 year low of $138.59 and a 1 year high of $284.50. The stock’s 50 day simple moving average is $240.67 and its two-hundred day simple moving average is $213.52.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.6%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, March 12th. Franco-Nevada’s dividend payout ratio (DPR) is currently 31.87%.

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.