Franco-Nevada Corporation $FNV Stock Position Increased by Metis Global Partners LLC

Metis Global Partners LLC grew its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 14.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 22,326 shares of the basic materials company’s stock after buying an additional 2,737 shares during the period. Metis Global Partners LLC’s holdings in Franco-Nevada were worth $4,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in FNV. Public Sector Pension Investment Board raised its holdings in shares of Franco-Nevada by 77.2% during the third quarter. Public Sector Pension Investment Board now owns 33,040 shares of the basic materials company’s stock valued at $7,356,000 after buying an additional 14,390 shares during the last quarter. Caprock Group LLC acquired a new stake in Franco-Nevada in the 3rd quarter valued at approximately $4,382,000. Baader Bank Aktiengesellschaft raised its stake in Franco-Nevada by 110.3% during the 3rd quarter. Baader Bank Aktiengesellschaft now owns 3,260 shares of the basic materials company’s stock valued at $704,000 after acquiring an additional 1,710 shares in the last quarter. Profund Advisors LLC boosted its position in Franco-Nevada by 47.1% during the 3rd quarter. Profund Advisors LLC now owns 23,773 shares of the basic materials company’s stock worth $5,299,000 after acquiring an additional 7,614 shares during the period. Finally, Gruss & Co. LLC acquired a new position in Franco-Nevada during the 3rd quarter worth $557,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on FNV. TD Securities lowered their price target on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Jefferies Financial Group reissued a “hold” rating and set a $228.00 target price on shares of Franco-Nevada in a research note on Sunday, December 7th. HC Wainwright upped their price target on shares of Franco-Nevada from $210.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank Of Canada upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $225.00 to $250.00 in a report on Wednesday, December 10th. Finally, Canaccord Genuity Group cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $254.38.

Franco-Nevada Trading Up 5.5%

NYSE:FNV opened at $252.51 on Friday. The company has a 50-day moving average of $229.42 and a 200-day moving average of $206.69. The firm has a market cap of $48.68 billion, a price-to-earnings ratio of 52.94, a price-to-earnings-growth ratio of 1.19 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.

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 issued a dividend of $0.44 per share. The ex-dividend date is Thursday, March 12th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada’s payout ratio is 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.