Franco-Nevada Corporation $FNV Stock Holdings Trimmed by Meixler Investment Management Ltd.

Meixler Investment Management Ltd. lessened its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 15.3% during the third quarter, Holdings Channel reports. The firm owned 18,826 shares of the basic materials company’s stock after selling 3,407 shares during the period. Franco-Nevada makes up about 2.6% of Meixler Investment Management Ltd.’s holdings, making the stock its 8th biggest holding. Meixler Investment Management Ltd.’s holdings in Franco-Nevada were worth $4,197,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Gruss & Co. LLC purchased a new position in shares of Franco-Nevada in the 3rd quarter worth $557,000. RFG Advisory LLC acquired a new stake in Franco-Nevada during the third quarter worth about $225,000. Fortune Financial Advisors LLC raised its holdings in shares of Franco-Nevada by 3.2% in the 3rd quarter. Fortune Financial Advisors LLC now owns 6,492 shares of the basic materials company’s stock worth $1,447,000 after purchasing an additional 201 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Franco-Nevada by 27.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 54 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Franco-Nevada by 17.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 93,991 shares of the basic materials company’s stock valued at $20,951,000 after purchasing an additional 13,895 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Trading Up 3.6%

FNV opened at $232.51 on Monday. Franco-Nevada Corporation has a twelve month low of $137.05 and a twelve month high of $273.55. The firm has a market cap of $44.83 billion, a price-to-earnings ratio of 48.74, a PEG ratio of 1.25 and a beta of 0.47. The company has a fifty day simple moving average of $224.74 and a 200 day simple moving average of $204.20.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, March 12th. Franco-Nevada’s payout ratio is presently 31.87%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FNV shares. Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday. Weiss Ratings lowered shares of Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 26th. TD Securities lowered their price target on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. Finally, Royal Bank Of Canada raised Franco-Nevada from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $225.00 to $250.00 in a research report on Wednesday, December 10th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $245.00.

Franco-Nevada Company 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.