Caprock Group LLC Invests $4.38 Million in Franco-Nevada Corporation $FNV

Caprock Group LLC purchased a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 19,658 shares of the basic materials company’s stock, valued at approximately $4,382,000.

Several other institutional investors have also recently added to or reduced their stakes in FNV. Smartleaf Asset Management LLC lifted its position in Franco-Nevada by 27.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 54 shares during the period. Spire Wealth Management raised its stake in shares of Franco-Nevada by 13.4% during the third quarter. Spire Wealth Management now owns 475 shares of the basic materials company’s stock worth $106,000 after purchasing an additional 56 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Franco-Nevada by 19.6% during the third quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 71 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of 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 worth $34,000 after purchasing an additional 90 shares during the period. Finally, Blue Trust Inc. grew its position in Franco-Nevada by 10.9% in the 2nd quarter. Blue Trust Inc. now owns 973 shares of the basic materials company’s stock valued at $160,000 after buying an additional 96 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

FNV opened at $257.99 on Thursday. The company has a market cap of $49.74 billion, a price-to-earnings ratio of 54.09, a PEG ratio of 1.34 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 business’s fifty day moving average is $227.70 and its two-hundred day moving average is $205.82.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued a dividend of $0.44 per share. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, March 12th. This represents a $1.76 annualized dividend and a yield of 0.7%. Franco-Nevada’s payout ratio is 31.87%.

Analysts Set New Price Targets

A number of equities analysts have commented on FNV shares. Royal Bank Of Canada upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $225.00 to $250.00 in a research report on Wednesday, December 10th. Canaccord Genuity Group cut shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. UBS Group reaffirmed a “buy” rating and issued a $310.00 price objective on shares of Franco-Nevada in a report on Friday, January 30th. Scotiabank boosted their target price on Franco-Nevada from $225.00 to $283.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, February 4th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $245.00.

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.