Deutsche Bank AG lessened its stake in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 42.0% in the 4th quarter, HoldingsChannel reports. The fund owned 964,283 shares of the basic materials company’s stock after selling 696,944 shares during the quarter. Deutsche Bank AG’s holdings in Franco Nevada were worth $77,091,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. increased its holdings in Franco Nevada by 453.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,922 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 1,575 shares in the last quarter. American International Group Inc. purchased a new stake in shares of Franco Nevada during the fourth quarter worth $197,000. Gratus Capital LLC purchased a new stake in shares of Franco Nevada during the third quarter worth $201,000. Cigna Investments Inc. New purchased a new stake in shares of Franco Nevada during the fourth quarter worth $203,000. Finally, Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Franco Nevada during the fourth quarter worth $237,000. 63.37% of the stock is owned by institutional investors.
Franco Nevada Corp (FNV) opened at $68.69 on Tuesday. The firm has a market cap of $12,674.87, a PE ratio of 63.12, a PEG ratio of 14.10 and a beta of -0.02. Franco Nevada Corp has a 1 year low of $60.57 and a 1 year high of $86.06.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 1.34%. Franco Nevada’s payout ratio is 87.62%.
FNV has been the subject of a number of research reports. TD Securities set a $96.00 target price on shares of Franco Nevada and gave the stock a “buy” rating in a report on Friday, December 1st. Desjardins reaffirmed a “sell” rating on shares of Franco Nevada in a report on Monday, December 11th. Zacks Investment Research raised shares of Franco Nevada from a “hold” rating to a “strong-buy” rating and set a $87.00 target price for the company in a report on Monday, December 18th. Scotiabank set a $86.00 target price on shares of Franco Nevada and gave the stock a “hold” rating in a report on Monday, January 22nd. Finally, Credit Suisse Group set a $80.00 target price on shares of Franco Nevada and gave the stock a “hold” rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $88.00.
Franco Nevada Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco Nevada Corp (NYSE:FNV) (TSE:FNV).
Receive News & Ratings for Franco Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco Nevada and related companies with MarketBeat.com's FREE daily email newsletter.