Allianz SE Raises Position in Franco-Nevada Corporation $FNV

Allianz SE grew its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 21.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 18,203 shares of the basic materials company’s stock after acquiring an additional 3,270 shares during the period. Allianz SE’s holdings in Franco-Nevada were worth $4,053,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FNV. Smartleaf Asset Management LLC boosted its position in shares of Franco-Nevada by 27.6% during the third quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 54 shares in the last quarter. Spire Wealth Management lifted its position in Franco-Nevada by 13.4% during the third quarter. Spire Wealth Management now owns 475 shares of the basic materials company’s stock valued at $106,000 after buying an additional 56 shares during the period. Lafayette Investments Inc. boosted its holdings in shares of Franco-Nevada by 2.4% during the 3rd quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company’s stock valued at $561,000 after buying an additional 60 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Franco-Nevada by 19.6% in the 3rd quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock worth $97,000 after buying an additional 71 shares during the period. Finally, Golden State Wealth Management LLC grew its position in shares of Franco-Nevada by 78.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock worth $34,000 after buying an additional 90 shares during the period. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FNV shares. Scotiabank boosted their price objective on shares of Franco-Nevada from $225.00 to $283.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, February 4th. Jefferies Financial Group reissued a “hold” rating and issued a $228.00 price target on shares of Franco-Nevada in a research report on Sunday, December 7th. Canaccord Genuity Group downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, UBS Group reaffirmed a “buy” rating and set a $310.00 price objective on shares of Franco-Nevada in a research report on Friday, January 30th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and an average target price of $254.38.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $280.83 on Friday. The firm has a market cap of $54.14 billion, a price-to-earnings ratio of 58.87, a price-to-earnings-growth ratio of 1.40 and a beta of 0.47. The business has a 50-day simple moving average of $240.67 and a two-hundred day simple moving average of $213.52. Franco-Nevada Corporation has a fifty-two week low of $138.59 and a fifty-two week high of $284.50.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, March 12th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s payout ratio is currently 31.87%.

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.