Caprock Group LLC Makes New Investment in Franco-Nevada Corporation $FNV

Caprock Group LLC acquired a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,658 shares of the basic materials company’s stock, valued at approximately $4,382,000.

Other institutional investors have also recently made changes to their positions in the company. MTM Investment Management LLC acquired a new stake in Franco-Nevada during the 2nd quarter worth approximately $32,000. Smartleaf Asset Management LLC raised its stake in shares of Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in Franco-Nevada by 78.3% in the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 90 shares during the period. CENTRAL TRUST Co grew its stake in Franco-Nevada by 590.9% during the 2nd quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 195 shares in the last quarter. Finally, City Holding Co. purchased a new stake in Franco-Nevada during the 3rd quarter worth about $56,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

FNV opened at $257.99 on Thursday. Franco-Nevada Corporation has a one year low of $137.05 and a one year high of $273.55. The stock has a market capitalization of $49.74 billion, a P/E ratio of 54.09, a price-to-earnings-growth ratio of 1.34 and a beta of 0.47. The business’s 50-day simple moving average is $227.70 and its 200-day simple moving average is $205.82.

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 issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, March 12th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s dividend payout ratio is presently 31.87%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FNV. Weiss Ratings upgraded Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. TD Securities decreased their price target on shares of Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a research note on Wednesday, November 5th. HC Wainwright boosted their price target on shares of Franco-Nevada from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Finally, Scotiabank boosted their target price on shares of Franco-Nevada from $225.00 to $283.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $245.00.

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.