Intech Investment Management LLC Has $8.34 Million Position in Franco-Nevada Corporation $FNV

Intech Investment Management LLC raised its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 244.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,481 shares of the basic materials company’s stock after purchasing an additional 26,597 shares during the period. Intech Investment Management LLC’s holdings in Franco-Nevada were worth $8,344,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FNV. Vanguard Group Inc. increased its position in shares of Franco-Nevada by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 8,216,318 shares of the basic materials company’s stock valued at $1,828,821,000 after buying an additional 129,898 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Franco-Nevada by 35.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock valued at $528,289,000 after acquiring an additional 838,853 shares during the period. Norges Bank bought a new stake in shares of Franco-Nevada in the second quarter worth about $460,218,000. TD Asset Management Inc increased its holdings in shares of Franco-Nevada by 0.9% in the third quarter. TD Asset Management Inc now owns 2,030,684 shares of the basic materials company’s stock worth $452,095,000 after acquiring an additional 18,897 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Franco-Nevada by 20.2% during the second quarter. Geode Capital Management LLC now owns 1,500,290 shares of the basic materials company’s stock worth $247,051,000 after purchasing an additional 252,540 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Up 0.0%

NYSE FNV opened at $280.83 on Friday. The firm’s 50 day moving average is $240.67 and its 200-day moving average is $213.52. The company has a market capitalization of $54.14 billion, a PE ratio of 58.87, a price-to-earnings-growth ratio of 1.40 and a beta of 0.47. Franco-Nevada Corporation has a 12-month low of $138.59 and a 12-month 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 paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, March 12th. 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%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Canaccord Genuity Group cut shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Scotiabank increased 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 report on Monday, January 26th. UBS Group reaffirmed a “buy” rating and issued a $310.00 price objective on shares of Franco-Nevada in a research report on Friday, January 30th. Finally, HC Wainwright increased their target price on Franco-Nevada from $210.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.38.

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.