Berkeley Capital Partners LLC Has $2.41 Million Stock Position in Franco-Nevada Corporation $FNV

Berkeley Capital Partners LLC lowered its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 20.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,826 shares of the basic materials company’s stock after selling 2,766 shares during the quarter. Franco-Nevada makes up approximately 0.6% of Berkeley Capital Partners LLC’s holdings, making the stock its 29th biggest position. Berkeley Capital Partners LLC’s holdings in Franco-Nevada were worth $2,413,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. MTM Investment Management LLC acquired a new position in Franco-Nevada in the second quarter worth approximately $32,000. Smartleaf Asset Management LLC grew its position in Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 168 shares in the last quarter. 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 during the last quarter. CENTRAL TRUST Co increased its stake in shares of 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 during the last quarter. Finally, City Holding Co. bought a new position in shares of Franco-Nevada during the 3rd quarter valued at $56,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FNV shares. Canaccord Genuity Group cut shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Royal Bank Of Canada raised Franco-Nevada from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $225.00 to $250.00 in a research report on Wednesday, December 10th. UBS Group reissued a “buy” rating and set a $310.00 price objective on shares of Franco-Nevada in a report on Friday, January 30th. TD Securities cut their price objective 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. Finally, Weiss Ratings raised Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Seven 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 company currently has an average rating of “Moderate Buy” and an average target price of $254.38.

Franco-Nevada Stock Up 0.3%

Shares of NYSE:FNV opened at $254.88 on Friday. The company has a market cap of $49.14 billion, a price-to-earnings ratio of 53.43, a PEG ratio of 1.26 and a beta of 0.47. The business has a 50 day moving average price of $233.15 and a 200 day moving average price of $209.26. Franco-Nevada Corporation has a twelve month low of $137.05 and a twelve month high of $273.55.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 12th. Franco-Nevada’s dividend payout ratio (DPR) is 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.