Bessemer Group Inc. Decreases Stock Holdings in Franco-Nevada Corporation $FNV

Bessemer Group Inc. lowered its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 22.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,084 shares of the basic materials company’s stock after selling 2,960 shares during the quarter. Bessemer Group Inc.’s holdings in Franco-Nevada were worth $2,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MTM Investment Management LLC purchased a new stake in shares of Franco-Nevada during the 2nd quarter valued at about $32,000. Smartleaf Asset Management LLC raised its position in Franco-Nevada by 600.0% during the second 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 during the period. 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 purchasing an additional 90 shares during the period. CENTRAL TRUST Co boosted its holdings 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 worth $37,000 after purchasing an additional 195 shares during the period. Finally, City Holding Co. bought a new position in shares of Franco-Nevada during the 3rd quarter valued at approximately $56,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FNV has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday. UBS Group restated a “buy” rating and issued a $310.00 target price on shares of Franco-Nevada in a report on Friday, January 30th. Jefferies Financial Group reiterated a “hold” rating and set a $228.00 price target on shares of Franco-Nevada in a report on Sunday, December 7th. Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Finally, HC Wainwright boosted their target price on Franco-Nevada from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating and eight have assigned 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 firm has a market capitalization of $44.83 billion, a price-to-earnings ratio of 48.74, a PEG ratio of 1.25 and a beta of 0.47. Franco-Nevada Corporation has a 1-year low of $137.05 and a 1-year high of $273.55. The company has a 50-day moving average of $224.74 and a 200 day moving average of $204.20.

Franco-Nevada Increases Dividend

The company also recently declared 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 is a positive change 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 (DPR) is presently 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.