Public Sector Pension Investment Board Has $7.36 Million Holdings in Franco-Nevada Corporation $FNV

Public Sector Pension Investment Board boosted its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 77.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,040 shares of the basic materials company’s stock after purchasing an additional 14,390 shares during the period. Public Sector Pension Investment Board’s holdings in Franco-Nevada were worth $7,356,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC bought a new stake in shares of Franco-Nevada during the first quarter worth $241,000. NewEdge Advisors LLC lifted its position in Franco-Nevada by 16.7% during the 1st quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock worth $1,038,000 after buying an additional 943 shares in the last quarter. Intech Investment Management LLC grew its holdings in Franco-Nevada by 118.3% during the 1st quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock worth $1,460,000 after acquiring an additional 5,032 shares during the last quarter. Acadian Asset Management LLC increased its position in Franco-Nevada by 800.0% in the 1st quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock valued at $424,000 after acquiring an additional 2,400 shares in the last quarter. Finally, Yousif Capital Management LLC raised its stake in shares of Franco-Nevada by 8.0% in the second quarter. Yousif Capital Management LLC now owns 2,560 shares of the basic materials company’s stock worth $420,000 after acquiring an additional 190 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 1.1%

NYSE:FNV opened at $249.38 on Wednesday. Franco-Nevada Corporation has a 12-month low of $137.05 and a 12-month high of $273.55. The stock’s fifty day simple moving average is $231.42 and its 200-day simple moving average is $208.62. The firm has a market capitalization of $48.08 billion, a P/E ratio of 52.28, a P/E/G ratio of 1.25 and a beta of 0.47.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. 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 is presently 31.87%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FNV. Weiss Ratings raised shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Zacks Research downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Royal Bank Of Canada upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $225.00 to $250.00 in a report on Wednesday, December 10th. TD Securities lowered their price objective 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. Finally, Canaccord Genuity Group downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Franco-Nevada has an average 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.