Deutsche Bank AG Buys 443,839 Shares of Franco-Nevada Corporation $FNV

Deutsche Bank AG grew its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 30.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,889,414 shares of the basic materials company’s stock after buying an additional 443,839 shares during the period. Deutsche Bank AG owned approximately 0.98% of Franco-Nevada worth $391,638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. PFG Investments LLC boosted its holdings in Franco-Nevada by 0.6% during the fourth quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock worth $1,484,000 after buying an additional 46 shares during the last quarter. Composition Wealth LLC boosted its holdings in Franco-Nevada by 0.8% during the fourth quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock worth $1,266,000 after buying an additional 49 shares during the last quarter. Syon Capital LLC boosted its holdings in Franco-Nevada by 2.1% during the fourth quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company’s stock worth $506,000 after buying an additional 51 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Franco-Nevada by 27.6% during the third quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock worth $55,000 after buying an additional 54 shares during the last quarter. Finally, Claret Asset Management Corp boosted its holdings in Franco-Nevada by 3.4% during the fourth quarter. Claret Asset Management Corp now owns 1,669 shares of the basic materials company’s stock worth $346,000 after buying an additional 55 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

FNV has been the topic of a number of recent analyst reports. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 target price on the stock in a report on Wednesday, May 20th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen cut Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating and cut their price objective for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.00.

Franco-Nevada Stock Performance

NYSE FNV opened at $208.51 on Thursday. The stock has a market capitalization of $40.21 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 1.85 and a beta of 0.34. The stock’s 50 day moving average price is $238.61 and its two-hundred day moving average price is $235.93. Franco-Nevada Corporation has a 52 week low of $152.89 and a 52 week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.09 by $0.29. The firm had revenue of $650.70 million for the quarter, compared to analysts’ expectations of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business’s quarterly revenue was up 76.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS. On average, equities research analysts forecast that Franco-Nevada Corporation will post 8.85 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be paid a $0.44 dividend. The ex-dividend date is Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 0.8%. Franco-Nevada’s payout ratio is presently 24.79%.

Franco-Nevada Company 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.