Franco-Nevada Corporation $FNV Shares Sold by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. decreased its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 318,870 shares of the basic materials company’s stock after selling 7,560 shares during the period. Franco-Nevada accounts for 2.0% of Mufg Securities Canada LTD.’s portfolio, making the stock its 19th largest position. Mufg Securities Canada LTD. owned approximately 0.17% of Franco-Nevada worth $70,967,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. MTM Investment Management LLC bought a new stake in Franco-Nevada in the second quarter valued at $32,000. Smartleaf Asset Management LLC increased its holdings in shares of Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 168 shares during the period. Golden State Wealth Management LLC lifted its position 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 purchasing an additional 90 shares during the last quarter. CENTRAL TRUST Co lifted its position in Franco-Nevada by 590.9% in the 2nd quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 195 shares during the last quarter. Finally, City Holding Co. acquired a new position in Franco-Nevada during the 3rd quarter valued at about $56,000. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on FNV shares. Scotiabank raised their price target on shares of Franco-Nevada from $225.00 to $283.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Jefferies Financial Group restated a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a research report on Sunday, December 7th. TD Securities cut their target price on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Finally, Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $254.38.

Franco-Nevada Stock Up 0.0%

Shares of FNV stock opened at $280.83 on Friday. The stock has a 50-day simple moving average of $240.67 and a 200 day simple moving average of $213.77. The stock has a market capitalization of $54.14 billion, a P/E ratio of 58.87, a P/E/G ratio of 1.40 and a beta of 0.47. Franco-Nevada Corporation has a fifty-two week low of $138.59 and a fifty-two week high of $284.50.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be paid a dividend of $0.44 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, March 12th. Franco-Nevada’s dividend payout ratio (DPR) is currently 31.87%.

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.