Vanguard Group Inc. Purchases 129,898 Shares of Franco-Nevada Corporation $FNV

Vanguard Group Inc. increased its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1.6% during the third quarter, Holdings Channel reports. The firm owned 8,216,318 shares of the basic materials company’s stock after buying an additional 129,898 shares during the quarter. Vanguard Group Inc.’s holdings in Franco-Nevada were worth $1,828,821,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. MTM Investment Management LLC acquired a new stake in shares of Franco-Nevada in the second quarter valued at approximately $32,000. Smartleaf Asset Management LLC boosted its stake in 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 purchasing an additional 168 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Franco-Nevada by 78.3% during 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 in the last quarter. CENTRAL TRUST Co grew its stake in shares of Franco-Nevada by 590.9% in 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. bought a new position in Franco-Nevada during the third quarter worth about $56,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Up 0.2%

Shares of NYSE FNV opened at $254.61 on Friday. The company has a market capitalization of $49.09 billion, a PE 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. The firm has a fifty day simple moving average of $233.15 and a 200 day simple moving average of $209.26.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, March 12th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. Franco-Nevada’s payout ratio is presently 31.87%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Canaccord Genuity Group cut shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. TD Securities dropped their target price on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a research report on Wednesday, November 5th. Royal Bank Of Canada upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $225.00 to $250.00 in a report on Wednesday, December 10th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $228.00 price objective on shares of Franco-Nevada in a research note on Sunday, December 7th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and a consensus price target 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.