Aviso Financial Inc. Buys 106,736 Shares of Franco-Nevada Corporation $FNV

Aviso Financial Inc. lifted its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 42.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 359,973 shares of the basic materials company’s stock after purchasing an additional 106,736 shares during the period. Franco-Nevada accounts for approximately 3.3% of Aviso Financial Inc.’s holdings, making the stock its 10th largest holding. Aviso Financial Inc. owned about 0.19% of Franco-Nevada worth $80,136,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its stake in Franco-Nevada by 27.6% in the third quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock valued at $55,000 after buying an additional 54 shares during the period. Spire Wealth Management raised its position in shares of Franco-Nevada by 13.4% in the 3rd quarter. Spire Wealth Management now owns 475 shares of the basic materials company’s stock valued at $106,000 after acquiring an additional 56 shares during the period. Lafayette Investments Inc. boosted its stake in Franco-Nevada by 2.4% during the 3rd quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company’s stock worth $561,000 after acquiring an additional 60 shares during the last quarter. Versant Capital Management Inc boosted its stake in Franco-Nevada by 19.6% during the 3rd quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 71 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings 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. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $280.83 on Friday. The firm has a market cap of $54.14 billion, a price-to-earnings ratio of 58.87, a price-to-earnings-growth ratio of 1.40 and a beta of 0.47. The stock’s 50-day moving average is $240.67 and its 200-day moving average is $213.77. Franco-Nevada Corporation has a one year low of $138.59 and a one year high of $284.50.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $1.76 annualized dividend and a dividend yield of 0.6%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s dividend payout ratio (DPR) is 31.87%.

Analyst Ratings Changes

Several equities research analysts have weighed in on FNV shares. Canaccord Genuity Group lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. UBS Group reiterated a “buy” rating and set a $310.00 target price on shares of Franco-Nevada in a report on Friday, January 30th. Zacks Research downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Finally, HC Wainwright raised their price target on Franco-Nevada from $210.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company 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.