Fiera Capital Corp trimmed its position in shares of Franco-Nevada Corporation (NYSE:FNV – Free Report) (TSE:FNV) by 9.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 359,750 shares of the basic materials company’s stock after selling 37,600 shares during the quarter. Fiera Capital Corp’s holdings in Franco-Nevada were worth $74,595,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of FNV. AQR Capital Management LLC bought a new position in Franco-Nevada during the first quarter valued at $241,000. NewEdge Advisors LLC grew its holdings in Franco-Nevada by 16.7% during the first quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock valued at $1,038,000 after purchasing an additional 943 shares during the period. Intech Investment Management LLC grew its holdings in Franco-Nevada by 118.3% during the first quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock valued at $1,460,000 after purchasing an additional 5,032 shares during the period. Acadian Asset Management LLC grew its holdings in Franco-Nevada by 800.0% during the first quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock valued at $424,000 after purchasing an additional 2,400 shares during the period. Finally, Marshall Wace LLP bought a new position in Franco-Nevada during the second quarter valued at $1,477,000. 77.06% of the stock is owned by institutional investors.
Franco-Nevada Price Performance
Franco-Nevada stock opened at $218.43 on Monday. Franco-Nevada Corporation has a one year low of $152.89 and a one year high of $285.67. The business has a fifty day moving average price of $239.79 and a 200-day moving average price of $235.55. The firm has a market capitalization of $42.13 billion, a P/E ratio of 30.76, a PEG ratio of 1.91 and a beta of 0.34.
Franco-Nevada Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, June 11th. Franco-Nevada’s dividend payout ratio (DPR) is 24.79%.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. Weiss Ratings raised Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, March 20th. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. HC Wainwright reissued a “buy” rating and set a $305.00 price objective on shares of Franco-Nevada in a report on Wednesday, May 13th. TD raised Franco-Nevada from a “hold” rating to a “buy” rating and reduced their price objective for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. Finally, Zacks Research lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $271.00.
Check Out Our Latest Analysis on FNV
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.
Further Reading
- Five stocks we like better than Franco-Nevada
- These 3 Insurance Stocks Made New 52-Week Highs: Still Time to Buy?
- 3 Stocks Under $20 to Buy Before a Broader Market Rally
- Petco Faces Tough Competition, But Momentum Is Building
- The Lock-In Effect Is Real—These 3 Homebuilders Are Betting on It
Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco-Nevada Corporation (NYSE:FNV – Free Report) (TSE:FNV).
Receive News & Ratings for Franco-Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco-Nevada and related companies with MarketBeat.com's FREE daily email newsletter.
