Franco-Nevada Corporation $FNV Shares Bought by Aviso Financial Inc.

Aviso Financial Inc. lifted its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 42.1% during the third quarter, Holdings Channel.com reports. The fund owned 359,973 shares of the basic materials company’s stock after buying an additional 106,736 shares during the period. Franco-Nevada accounts for approximately 3.3% of Aviso Financial Inc.’s holdings, making the stock its 10th largest holding. Aviso Financial Inc.’s holdings in Franco-Nevada were worth $80,136,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Franco-Nevada by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 8,216,318 shares of the basic materials company’s stock worth $1,828,821,000 after purchasing an additional 129,898 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Franco-Nevada by 35.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock valued at $528,289,000 after buying an additional 838,853 shares in the last quarter. Norges Bank bought a new position in shares of Franco-Nevada in the second quarter valued at $460,218,000. TD Asset Management Inc increased its holdings in Franco-Nevada by 0.9% during the third quarter. TD Asset Management Inc now owns 2,030,684 shares of the basic materials company’s stock worth $452,095,000 after buying an additional 18,897 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Franco-Nevada by 20.2% during the second quarter. Geode Capital Management LLC now owns 1,500,290 shares of the basic materials company’s stock worth $247,051,000 after acquiring an additional 252,540 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FNV. Zacks Research downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. UBS Group reiterated a “buy” rating and issued a $310.00 target price on shares of Franco-Nevada in a research note on Friday, January 30th. Scotiabank boosted their price target on Franco-Nevada from $225.00 to $283.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Royal Bank Of Canada upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $225.00 to $250.00 in a research note on Wednesday, December 10th. Finally, TD Securities cut 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. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.38.

Franco-Nevada Stock Up 0.0%

Franco-Nevada stock opened at $280.83 on Friday. The company’s 50-day moving average price is $240.67 and its two-hundred day moving average price is $213.77. The stock has a market cap 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 twelve month low of $138.59 and a twelve month high of $284.50.

Franco-Nevada Increases Dividend

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

About Franco-Nevada

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.