Janus Henderson Group PLC grew its holdings in shares of Franco-Nevada Corporation (NYSE:FNV – Free Report) (TSE:FNV) by 65.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,532 shares of the basic materials company’s stock after acquiring an additional 12,030 shares during the period. Janus Henderson Group PLC’s holdings in Franco-Nevada were worth $7,552,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. PFG Investments LLC boosted its holdings 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 worth $1,484,000 after acquiring an additional 46 shares in the last quarter. Composition Wealth LLC increased its holdings 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 acquiring an additional 49 shares in the last quarter. Clark Capital Management Group Inc. raised 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 during the period. Syon Capital LLC lifted its holdings in shares of Franco-Nevada by 2.1% in the 4th 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. lifted its holdings in shares of Franco-Nevada by 3.2% in the 4th quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company’s stock worth $351,000 after purchasing an additional 52 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.
Franco-Nevada Stock Performance
Shares of Franco-Nevada stock opened at $227.01 on Thursday. Franco-Nevada Corporation has a 52-week low of $165.59 and a 52-week high of $285.67. The company’s 50 day moving average price is $214.70 and its 200-day moving average price is $235.94. The stock has a market capitalization of $43.78 billion, a price-to-earnings ratio of 31.97, a P/E/G ratio of 1.85 and a beta of 0.35.
Franco-Nevada Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 11th. Franco-Nevada’s payout ratio is 24.79%.
Analysts Set New Price Targets
A number of analysts have commented on FNV shares. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target for the company in a research note on Wednesday, May 20th. Scotiabank dropped their price objective on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Bank of America reduced their price objective on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. HC Wainwright reissued a “buy” rating and set a $305.00 target price on shares of Franco-Nevada in a research report on Wednesday, May 13th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and an average target price of $273.40.
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.
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