Franco-Nevada Corporation $FNV Stock Position Lifted by Clare Market Investments LLC

Clare Market Investments LLC increased its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 54.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,150 shares of the basic materials company’s stock after purchasing an additional 2,515 shares during the quarter. Clare Market Investments LLC’s holdings in Franco-Nevada were worth $1,594,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Franco-Nevada by 1.6% in the third quarter. Vanguard Group Inc. now owns 8,216,318 shares of the basic materials company’s stock valued at $1,828,821,000 after acquiring an additional 129,898 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Franco-Nevada by 35.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock valued at $528,289,000 after purchasing an additional 838,853 shares during the period. Norges Bank bought a new position in Franco-Nevada during the 2nd quarter worth $460,218,000. TD Asset Management Inc increased its position in Franco-Nevada by 0.9% in the third quarter. TD Asset Management Inc now owns 2,030,684 shares of the basic materials company’s stock worth $452,095,000 after buying an additional 18,897 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Franco-Nevada by 20.2% in the second quarter. Geode Capital Management LLC now owns 1,500,290 shares of the basic materials company’s stock valued at $247,051,000 after buying an additional 252,540 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $280.83 on Friday. The firm has a 50 day simple moving average of $240.67 and a 200 day simple moving average of $213.52. Franco-Nevada Corporation has a 52 week low of $138.59 and a 52 week high of $284.50. The company has a market cap of $54.14 billion, a PE ratio of 58.87, a price-to-earnings-growth ratio of 1.40 and a beta of 0.47.

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 paid a dividend of $0.44 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $1.76 annualized dividend and a yield of 0.6%. Franco-Nevada’s dividend payout ratio (DPR) is presently 31.87%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FNV shares. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. HC Wainwright raised their price target on Franco-Nevada from $210.00 to $285.00 and gave the company a “buy” rating in a report on Friday, February 13th. Zacks Research downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a research report on Sunday, December 7th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $254.38.

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.