Franco-Nevada Corporation (NYSE:FNV – Get Free Report) (TSE:FNV) declared a quarterly dividend on Tuesday, August 11th. Shareholders of record on Thursday, September 10th will be paid a dividend of 0.44 per share by the basic materials company on Thursday, September 24th. This represents a c) dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, September 10th.
Franco-Nevada has decreased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 18 years. Franco-Nevada has a dividend payout ratio of 35.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Franco-Nevada to earn $8.80 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 20.0%.
Franco-Nevada Stock Performance
Shares of Franco-Nevada stock opened at $236.36 on Thursday. The firm has a 50-day simple moving average of $215.46 and a two-hundred day simple moving average of $235.49. Franco-Nevada has a fifty-two week low of $173.39 and a fifty-two week high of $285.67. The company has a market cap of $45.59 billion, a P/E ratio of 30.90, a price-to-earnings-growth ratio of 2.03 and a beta of 0.35.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in FNV. PFG Investments LLC grew its position in Franco-Nevada by 0.6% in the fourth quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock valued at $1,484,000 after acquiring an additional 46 shares in the last quarter. Composition Wealth LLC raised its stake in shares of Franco-Nevada by 0.8% during the fourth quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock valued at $1,266,000 after purchasing an additional 49 shares during the period. Clark Capital Management Group Inc. lifted its position in shares of Franco-Nevada by 1.0% during the fourth quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company’s stock worth $1,048,000 after purchasing an additional 50 shares in the last quarter. Syon Capital LLC lifted its position in shares of Franco-Nevada by 2.1% during the fourth quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 51 shares in the last quarter. Finally, Guardian Partners Inc. boosted its stake in shares of Franco-Nevada by 3.2% in the fourth quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company’s stock valued at $351,000 after purchasing an additional 52 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.
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.
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