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

Berkeley Capital Partners LLC reduced its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 20.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,826 shares of the basic materials company’s stock after selling 2,766 shares during the quarter. Franco-Nevada makes up 0.6% of Berkeley Capital Partners LLC’s portfolio, making the stock its 29th largest holding. Berkeley Capital Partners LLC’s holdings in Franco-Nevada were worth $2,413,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MTM Investment Management LLC bought a new stake in Franco-Nevada in the 2nd quarter valued at $32,000. Smartleaf Asset Management LLC boosted its position in shares of Franco-Nevada by 600.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares in the last quarter. Golden State Wealth Management LLC increased its stake in Franco-Nevada by 78.3% in 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 during the period. CENTRAL TRUST Co raised its position in Franco-Nevada by 590.9% in the second quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 195 shares in the last quarter. Finally, City Holding Co. acquired a new position in Franco-Nevada in the third quarter worth about $56,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Up 0.3%

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

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 given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, March 12th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s dividend payout ratio is currently 31.87%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FNV. Zacks Research downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. HC Wainwright upped their price target on Franco-Nevada from $210.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Scotiabank increased their price objective on Franco-Nevada from $225.00 to $283.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Finally, Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.38.

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.