Andra AP fonden Increases Stake in Franco-Nevada Corporation $FNV

Andra AP fonden lifted its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 21.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,600 shares of the basic materials company’s stock after acquiring an additional 9,100 shares during the period. Andra AP fonden’s holdings in Franco-Nevada were worth $11,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. MTM Investment Management LLC purchased a new position in shares of Franco-Nevada during the 2nd quarter valued at about $32,000. Smartleaf Asset Management LLC increased its stake in shares of Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. Golden State Wealth Management LLC raised its holdings 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 purchasing an additional 90 shares during the period. CENTRAL TRUST Co boosted its position in Franco-Nevada by 590.9% during the second 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. acquired a new stake in Franco-Nevada in the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $280.83 on Friday. The company has a market capitalization of $54.14 billion, a PE ratio of 58.87, a price-to-earnings-growth ratio of 1.40 and a beta of 0.47. Franco-Nevada Corporation has a fifty-two week low of $138.59 and a fifty-two week high of $284.50. The firm has a 50 day moving average price of $240.67 and a 200 day moving average price of $213.52.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be issued a $0.44 dividend. The ex-dividend date is Thursday, March 12th. This represents a $1.76 annualized dividend and a dividend yield of 0.6%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s dividend payout ratio (DPR) is presently 31.87%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. UBS Group reaffirmed a “buy” rating and set a $310.00 target price on shares of Franco-Nevada in a research note on Friday, January 30th. Jefferies Financial Group restated a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a research report on Sunday, December 7th. TD Securities decreased their price objective on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Royal Bank Of Canada raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $225.00 to $250.00 in a report on Wednesday, December 10th. Finally, Zacks Research downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.