Franco-Nevada Corporation $FNV is O Brien Greene & Co. Inc’s 7th Largest Position

O Brien Greene & Co. Inc cut its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 48,120 shares of the basic materials company’s stock after selling 3,249 shares during the period. Franco-Nevada accounts for about 3.3% of O Brien Greene & Co. Inc’s holdings, making the stock its 7th biggest position. O Brien Greene & Co. Inc’s holdings in Franco-Nevada were worth $10,726,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. MTM Investment Management LLC purchased a new stake in shares of Franco-Nevada in the second quarter valued at $32,000. Smartleaf Asset Management LLC lifted its position in Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after buying an additional 168 shares during the period. Golden State Wealth Management LLC boosted its stake 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 worth $34,000 after buying an additional 90 shares during the last quarter. CENTRAL TRUST Co grew its holdings 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 buying an additional 195 shares during the period. Finally, City Holding Co. purchased a new stake in Franco-Nevada in the 3rd quarter valued at about $56,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FNV. 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 stock from $225.00 to $250.00 in a report on Wednesday, December 10th. Zacks Research lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $228.00 price target on shares of Franco-Nevada in a report on Sunday, December 7th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Finally, HC Wainwright upped their price objective on Franco-Nevada from $210.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus price target of $254.38.

Franco-Nevada Stock Performance

NYSE FNV opened at $270.67 on Tuesday. The firm has a market capitalization of $52.19 billion, a price-to-earnings ratio of 56.74, a PEG ratio of 1.29 and a beta of 0.47. Franco-Nevada Corporation has a one year low of $137.05 and a one year high of $273.55. The company’s 50 day moving average price is $235.23 and its 200 day moving average price is $211.15.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. 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.