Franco-Nevada Corporation $FNV Holdings Raised by Clare Market Investments LLC

Clare Market Investments LLC grew its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 54.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,150 shares of the basic materials company’s stock after acquiring an additional 2,515 shares during the period. Clare Market Investments LLC’s holdings in Franco-Nevada were worth $1,594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. MTM Investment Management LLC purchased a new position in Franco-Nevada in the second quarter valued at about $32,000. Smartleaf Asset Management LLC grew its stake in shares of Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after buying an additional 168 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Franco-Nevada by 78.3% in the second 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 last quarter. CENTRAL TRUST Co raised its position in Franco-Nevada by 590.9% during the second quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 195 shares in the last quarter. Finally, City Holding Co. acquired a new stake in Franco-Nevada in the third quarter valued at approximately $56,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FNV shares. UBS Group restated a “buy” rating and set a $310.00 price target on shares of Franco-Nevada in a research note on Friday, January 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $228.00 price objective on shares of Franco-Nevada in a report on Sunday, December 7th. HC Wainwright raised their target price on Franco-Nevada from $210.00 to $285.00 and gave the company a “buy” rating in a report on Friday, February 13th. Weiss Ratings raised Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $254.38.

Franco-Nevada Price Performance

FNV stock opened at $280.83 on Friday. The stock has a market capitalization 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 company has a 50-day moving average of $240.67 and a two-hundred day moving average of $213.52. Franco-Nevada Corporation has a 52-week low of $138.59 and a 52-week high of $284.50.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $1.76 annualized dividend and a yield of 0.6%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s dividend payout ratio (DPR) is presently 31.87%.

Franco-Nevada 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.