Franco-Nevada Corporation $FNV Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 54.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,228 shares of the basic materials company’s stock after purchasing an additional 40,548 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Franco-Nevada worth $24,031,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in FNV. Crescent Grove Advisors LLC bought a new stake in Franco-Nevada during the 4th quarter valued at $489,000. PKO Investment Management Joint Stock Co lifted its holdings in Franco-Nevada by 11.4% in the 4th quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company’s stock valued at $14,519,000 after acquiring an additional 7,150 shares during the last quarter. Oxbow Advisors LLC boosted its holdings in Franco-Nevada by 76.0% during the fourth quarter. Oxbow Advisors LLC now owns 35,332 shares of the basic materials company’s stock worth $7,324,000 after buying an additional 15,260 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Franco-Nevada by 5.1% in the first quarter. Bank of Nova Scotia now owns 485,345 shares of the basic materials company’s stock valued at $120,146,000 after buying an additional 23,587 shares in the last quarter. Finally, Annex Advisory Services LLC increased its holdings in shares of Franco-Nevada by 70.5% in the second quarter. Annex Advisory Services LLC now owns 160,605 shares of the basic materials company’s stock valued at $33,477,000 after buying an additional 66,432 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

NYSE:FNV opened at $234.50 on Friday. The firm’s 50-day moving average is $215.69 and its 200-day moving average is $235.31. Franco-Nevada Corporation has a 52-week low of $173.39 and a 52-week high of $285.67. The company has a market cap of $45.23 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 1.95 and a beta of 0.35.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The company had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. During the same period in the prior year, the company posted $1.24 EPS. The firm’s quarterly revenue was up 57.3% on a year-over-year basis. Equities analysts predict that Franco-Nevada Corporation will post 8.23 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, September 10th. Franco-Nevada’s payout ratio is currently 23.01%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FNV shares. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target for the company in a research note on Wednesday, May 20th. Bank of America dropped their price target on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Zacks Research upgraded shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday. Finally, HC Wainwright reissued a “buy” rating and issued a $305.00 price objective on shares of Franco-Nevada in a research note on Wednesday, May 13th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.40.

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.