2,500 Shares in Franco-Nevada Corporation $FNV Bought by Gruss & Co. LLC

Gruss & Co. LLC bought a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the third quarter, Holdings Channel reports. The institutional investor bought 2,500 shares of the basic materials company’s stock, valued at approximately $557,000. Franco-Nevada accounts for approximately 1.5% of Gruss & Co. LLC’s holdings, making the stock its 13th biggest position.

Other hedge funds also recently bought and sold shares of the company. MTM Investment Management LLC purchased a new stake in shares of Franco-Nevada during the 2nd quarter worth about $32,000. Smartleaf Asset Management LLC increased its holdings 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 buying an additional 168 shares during the last quarter. Golden State Wealth Management LLC raised its position in Franco-Nevada by 78.3% during the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 90 shares in the last quarter. CENTRAL TRUST Co raised 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 valued at $37,000 after acquiring 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. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 26th. UBS Group reissued a “buy” rating and set a $310.00 target price on shares of Franco-Nevada in a research report on Friday, January 30th. TD Securities cut their target price on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Bank of America boosted their price target on Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Finally, Zacks Research lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, Franco-Nevada presently has an average rating of “Hold” and an average price target of $245.00.

Franco-Nevada Price Performance

Shares of FNV opened at $232.51 on Monday. The company has a market capitalization of $44.83 billion, a PE ratio of 48.74, a price-to-earnings-growth ratio of 1.25 and a beta of 0.47. Franco-Nevada Corporation has a one year low of $137.05 and a one year high of $273.55. The company’s fifty day moving average price is $224.74 and its 200 day moving average price is $204.20.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a $0.44 dividend. The ex-dividend date is Thursday, March 12th. 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 0.8%. Franco-Nevada’s dividend payout ratio is presently 31.87%.

About Franco-Nevada

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.