HUB Investment Partners LLC Takes Position in Franco-Nevada Corporation $FNV

HUB Investment Partners LLC bought a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,713 shares of the basic materials company’s stock, valued at approximately $605,000.

Several other hedge funds also recently made changes to their positions in FNV. Intellectus Partners LLC raised its holdings in Franco-Nevada by 36.5% during the 3rd quarter. Intellectus Partners LLC now owns 2,098 shares of the basic materials company’s stock valued at $468,000 after buying an additional 561 shares during the last quarter. Integrated Quantitative Investments LLC purchased a new stake in Franco-Nevada during the 3rd quarter valued at $1,231,000. Dimensional Fund Advisors LP grew its holdings in Franco-Nevada by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 270,963 shares of the basic materials company’s stock worth $60,385,000 after acquiring an additional 8,321 shares during the last quarter. Montag A & Associates Inc. increased its position in shares of Franco-Nevada by 150.0% in the third quarter. Montag A & Associates Inc. now owns 250 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 150 shares during the period. Finally, Cresset Asset Management LLC increased its position in shares of Franco-Nevada by 23.3% in the third quarter. Cresset Asset Management LLC now owns 3,034 shares of the basic materials company’s stock valued at $676,000 after acquiring an additional 573 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FNV shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Weiss Ratings downgraded Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Scotiabank increased their price objective on Franco-Nevada from $225.00 to $283.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. Finally, Zacks Research upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $254.38.

Franco-Nevada Stock Performance

FNV stock opened at $259.83 on Monday. The firm has a 50 day moving average price of $245.40 and a 200-day moving average price of $217.07. Franco-Nevada Corporation has a 52-week low of $140.03 and a 52-week high of $285.67. The firm has a market capitalization of $50.10 billion, a price-to-earnings ratio of 54.47, a PEG ratio of 3.45 and a beta of 0.45.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, March 12th. 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%. 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.