Envestnet Asset Management Inc. Increases Position in Franco-Nevada Corporation $FNV

Envestnet Asset Management Inc. lifted its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 17.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 93,991 shares of the basic materials company’s stock after buying an additional 13,895 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Franco-Nevada were worth $20,951,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FNV. MTM Investment Management LLC acquired a new stake in shares of Franco-Nevada in the second quarter valued at $32,000. Smartleaf Asset Management LLC increased its holdings in Franco-Nevada by 600.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares during the period. Golden State Wealth Management LLC raised its position 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 valued at $34,000 after purchasing an additional 90 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of 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. acquired a new position in shares of Franco-Nevada during the third quarter worth about $56,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Stock Up 5.5%

Shares of FNV stock opened at $252.51 on Friday. The stock has a market cap of $48.68 billion, a P/E ratio of 52.94, a P/E/G ratio of 1.19 and a beta of 0.47. Franco-Nevada Corporation has a fifty-two week low of $137.05 and a fifty-two week high of $273.55. The business has a fifty day simple moving average of $229.42 and a 200-day simple moving average of $206.69.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be paid 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 0.7%. The ex-dividend date is Thursday, March 12th. Franco-Nevada’s payout ratio is presently 31.87%.

Wall Street Analysts Forecast Growth

FNV has been the topic of several analyst reports. UBS Group reaffirmed a “buy” rating and issued a $310.00 target price on shares of Franco-Nevada in a report on Friday, January 30th. HC Wainwright raised their price objective on shares of Franco-Nevada from $210.00 to $285.00 and gave the company a “buy” rating in a report on Friday. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Jefferies Financial Group reissued a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a report on Sunday, December 7th. Finally, Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $254.38.

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.