Franco-Nevada Corporation $FNV is Meixler Investment Management Ltd.’s 8th Largest Position

Meixler Investment Management Ltd. cut its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 15.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,826 shares of the basic materials company’s stock after selling 3,407 shares during the quarter. Franco-Nevada accounts for 2.6% of Meixler Investment Management Ltd.’s investment portfolio, making the stock its 8th biggest holding. Meixler Investment Management Ltd.’s holdings in Franco-Nevada were worth $4,197,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in Franco-Nevada by 27.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock valued at $55,000 after acquiring an additional 54 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Franco-Nevada by 13.4% in the third quarter. Spire Wealth Management now owns 475 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 56 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Franco-Nevada by 19.6% in the third quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 71 shares in the last quarter. Kiker Wealth Management LLC grew its position in shares of Franco-Nevada by 20.5% in the second quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 80 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its stake in shares of Franco-Nevada by 78.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of recent research reports. TD Securities reduced their target price on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Bank of America upped their price objective on Franco-Nevada from $211.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Scotiabank boosted their target price on shares of Franco-Nevada from $225.00 to $283.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a report on Sunday, December 7th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada currently has a consensus rating of “Hold” and a consensus price target of $245.00.

Franco-Nevada Stock Up 3.6%

FNV stock opened at $232.51 on Monday. The stock has a market capitalization of $44.83 billion, a price-to-earnings ratio of 48.74, a price-to-earnings-growth ratio of 1.25 and a beta of 0.47. The stock’s fifty day simple moving average is $224.74 and its 200-day simple moving average is $204.20. Franco-Nevada Corporation has a 52-week low of $137.05 and a 52-week high of $273.55.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a dividend of $0.44 per share. 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 0.8%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s dividend payout ratio is currently 31.87%.

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.