Franco Nevada Corp (FNV) Stake Raised by Commerzbank Aktiengesellschaft FI
Commerzbank Aktiengesellschaft FI increased its stake in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 23.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,349 shares of the basic materials company’s stock after buying an additional 8,862 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Franco Nevada were worth $3,457,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FNV. BNP Paribas Arbitrage SA raised its stake in Franco Nevada by 128.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,600 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 900 shares during the period. Cerebellum GP LLC raised its stake in Franco Nevada by 2,358.0% in the 2nd quarter. Cerebellum GP LLC now owns 2,458 shares of the basic materials company’s stock valued at $179,000 after acquiring an additional 2,358 shares during the period. Verition Fund Management LLC bought a new stake in Franco Nevada in the 1st quarter valued at $201,000. Janney Montgomery Scott LLC bought a new stake in Franco Nevada in the 2nd quarter valued at $218,000. Finally, Community Financial Services Group LLC bought a new stake in Franco Nevada in the 2nd quarter valued at $219,000. 63.59% of the stock is owned by institutional investors.
FNV opened at $62.16 on Wednesday. The firm has a market capitalization of $11.91 billion, a P/E ratio of 52.88, a price-to-earnings-growth ratio of 13.35 and a beta of -0.18. Franco Nevada Corp has a 1-year low of $61.64 and a 1-year high of $86.06.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Thursday, September 13th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Wednesday, September 12th. Franco Nevada’s payout ratio is 88.89%.
A number of research firms recently weighed in on FNV. ValuEngine cut Franco Nevada from a “hold” rating to a “sell” rating in a research note on Tuesday. TD Securities set a $93.00 price target on Franco Nevada and gave the company a “buy” rating in a research note on Tuesday, August 7th. Desjardins upgraded Franco Nevada from a “sell” rating to a “hold” rating in a research note on Wednesday, July 18th. Finally, Macquarie cut Franco Nevada from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $93.71.
Franco Nevada Company Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.
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