Jupiter Asset Management Ltd. Increases Holdings in Franco-Nevada Corporation $FNV

Jupiter Asset Management Ltd. increased its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 111.5% during the third quarter, HoldingsChannel.com reports. The firm owned 17,914 shares of the basic materials company’s stock after buying an additional 9,445 shares during the period. Jupiter Asset Management Ltd.’s holdings in Franco-Nevada were worth $3,988,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. MTM Investment Management LLC bought a new stake in shares of Franco-Nevada during the second quarter valued at about $32,000. Smartleaf Asset Management LLC boosted its position in shares of Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares during the period. Golden State Wealth Management LLC grew its stake 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 acquiring an additional 90 shares in the last quarter. CENTRAL TRUST Co increased its holdings in Franco-Nevada by 590.9% during the 2nd quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 195 shares during the period. Finally, City Holding Co. bought a new stake in Franco-Nevada during the 3rd quarter worth approximately $56,000. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on FNV. TD Securities cut their price target on shares of Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. UBS Group reissued a “buy” rating and set a $310.00 price objective on shares of Franco-Nevada in a research note on Friday, January 30th. Canaccord Genuity Group lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, February 4th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $254.38.

Franco-Nevada Stock Up 2.1%

FNV opened at $260.36 on Friday. The business’s fifty day simple moving average is $234.06 and its 200 day simple moving average is $210.18. Franco-Nevada Corporation has a 52 week low of $137.05 and a 52 week high of $273.55. The stock has a market cap of $50.20 billion, a PE ratio of 54.58, a P/E/G ratio of 1.29 and a beta of 0.47.

Franco-Nevada Increases Dividend

The firm also recently declared 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 represents a $1.76 annualized dividend and a dividend yield of 0.7%. 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. Franco-Nevada’s payout ratio is 31.87%.

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.