Groupama Asset Managment Takes $15.59 Million Position in Franco-Nevada Co. (NYSE:FNV)

Groupama Asset Managment acquired a new stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 133,310 shares of the basic materials company’s stock, valued at approximately $15,592,000. Groupama Asset Managment owned approximately 0.07% of Franco-Nevada at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new position in Franco-Nevada during the fourth quarter valued at $47,000. Physician Wealth Advisors Inc. bought a new position in shares of Franco-Nevada in the fourth quarter worth $49,000. Point72 DIFC Ltd purchased a new position in Franco-Nevada during the third quarter worth about $52,000. Harbour Investments Inc. grew its holdings in shares of Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 93 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in Franco-Nevada in the 3rd quarter worth approximately $55,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Raymond James increased their price target on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. UBS Group boosted their price target on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Finally, HC Wainwright lifted their target price on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.50.

Franco-Nevada Stock Performance

FNV stock opened at $157.50 on Tuesday. The company has a market capitalization of $30.33 billion, a price-to-earnings ratio of -49.84, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. The business’s 50 day moving average price is $143.23 and its two-hundred day moving average price is $130.83. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $159.38.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. The firm had revenue of $321.00 million during the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. Sell-side analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Thursday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio is currently 53.15%.

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.