Franco-Nevada Corporation $FNV Shares Purchased by Fiera Capital Corp

Fiera Capital Corp increased its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 397,350 shares of the basic materials company’s stock after buying an additional 19,742 shares during the quarter. Fiera Capital Corp owned 0.21% of Franco-Nevada worth $88,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FNV. Norges Bank purchased a new stake in shares of Franco-Nevada during the second quarter worth about $460,218,000. Arrowstreet Capital Limited Partnership boosted its stake in Franco-Nevada by 35.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock worth $528,289,000 after purchasing an additional 838,853 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in Franco-Nevada during the 2nd quarter worth approximately $80,621,000. Invesco Ltd. increased its stake in Franco-Nevada by 110.6% during the 2nd quarter. Invesco Ltd. now owns 902,017 shares of the basic materials company’s stock valued at $147,859,000 after purchasing an additional 473,697 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its holdings in shares of Franco-Nevada by 1,084.0% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 350,236 shares of the basic materials company’s stock worth $57,411,000 after buying an additional 320,656 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FNV. Jefferies Financial Group restated a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a research note on Sunday, December 7th. HC Wainwright increased their price objective on Franco-Nevada from $210.00 to $285.00 and gave the company a “buy” rating in a report on Friday, February 13th. UBS Group reaffirmed a “buy” rating and set a $310.00 target price on shares of Franco-Nevada in a report on Friday, January 30th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, February 4th. Finally, Canaccord Genuity Group cut shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.38.

Franco-Nevada Price Performance

FNV opened at $254.88 on Friday. The firm has a fifty day moving average price of $233.15 and a 200 day moving average price of $209.26. Franco-Nevada Corporation has a 1 year low of $137.05 and a 1 year high of $273.55. The stock has a market cap of $49.14 billion, a P/E ratio of 53.43, a P/E/G ratio of 1.26 and a beta of 0.47.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 annualized dividend and a yield of 0.7%. Franco-Nevada’s dividend payout ratio is 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.