Franco-Nevada Corporation $FNV Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,216,318 shares of the basic materials company’s stock after purchasing an additional 129,898 shares during the quarter. Vanguard Group Inc. owned about 4.26% of Franco-Nevada worth $1,828,821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. MTM Investment Management LLC purchased a new stake in shares of Franco-Nevada during the second quarter worth $32,000. Smartleaf Asset Management LLC boosted its holdings in shares of Franco-Nevada by 600.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after buying an additional 168 shares during the period. Golden State Wealth Management LLC grew its stake in 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 valued at $34,000 after buying an additional 90 shares during the last quarter. CENTRAL TRUST Co raised its holdings in Franco-Nevada by 590.9% in the 2nd quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 195 shares during the period. Finally, City Holding Co. bought a new stake in Franco-Nevada during the third quarter valued at about $56,000. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FNV has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Royal Bank Of Canada upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $225.00 to $250.00 in a research report on Wednesday, December 10th. HC Wainwright lifted their price objective on Franco-Nevada from $210.00 to $285.00 and gave the company a “buy” rating in a report on Friday, February 13th. TD Securities lowered their target price on shares of Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Finally, Weiss Ratings upgraded shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $254.38.

Franco-Nevada Stock Up 0.2%

Shares of FNV opened at $254.61 on Friday. The company has a 50 day moving average of $233.15 and a 200-day moving average of $209.26. The stock has a market capitalization of $49.09 billion, a P/E ratio of 53.38, a P/E/G ratio of 1.26 and a beta of 0.47. Franco-Nevada Corporation has a twelve month low of $137.05 and a twelve month high of $273.55.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be paid a $0.44 dividend. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, March 12th. Franco-Nevada’s dividend payout ratio is 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.