First Eagle Investment Management LLC Has $901.09 Million Position in Franco-Nevada Corporation $FNV

First Eagle Investment Management LLC raised its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 26.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,049,187 shares of the basic materials company’s stock after purchasing an additional 846,950 shares during the quarter. Franco-Nevada comprises 1.6% of First Eagle Investment Management LLC’s holdings, making the stock its 21st biggest position. First Eagle Investment Management LLC’s holdings in Franco-Nevada were worth $901,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in shares of Franco-Nevada by 27.6% in the third quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock worth $55,000 after buying an additional 54 shares during the last quarter. Spire Wealth Management raised its holdings in Franco-Nevada by 13.4% in the 3rd quarter. Spire Wealth Management now owns 475 shares of the basic materials company’s stock worth $106,000 after acquiring an additional 56 shares during the period. Lafayette Investments Inc. raised its holdings in Franco-Nevada by 2.4% in the 3rd quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company’s stock worth $561,000 after acquiring an additional 60 shares during the period. Versant Capital Management Inc lifted its position in Franco-Nevada by 19.6% during the 3rd quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 71 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in Franco-Nevada by 78.3% during the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 90 shares during the period. Institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FNV. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Canaccord Genuity Group downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Scotiabank raised their target price on Franco-Nevada from $225.00 to $283.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Zacks Research upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday. Finally, Weiss Ratings upgraded Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.38.

Franco-Nevada Stock Down 1.0%

FNV stock opened at $277.67 on Tuesday. Franco-Nevada Corporation has a twelve month low of $140.03 and a twelve month high of $285.67. The company has a market cap of $53.53 billion, a PE ratio of 58.21, a price-to-earnings-growth ratio of 3.73 and a beta of 0.45. The business’s 50-day simple moving average is $241.94 and its 200 day simple moving average is $214.72.

Franco-Nevada Increases Dividend

The company also recently disclosed 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 is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, March 12th. Franco-Nevada’s dividend payout ratio (DPR) is presently 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.