Franco-Nevada Corporation $FNV Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC raised its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 14.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,326 shares of the basic materials company’s stock after buying an additional 2,737 shares during the period. Metis Global Partners LLC’s holdings in Franco-Nevada were worth $4,969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Public Sector Pension Investment Board boosted its holdings in Franco-Nevada by 77.2% in the third quarter. Public Sector Pension Investment Board now owns 33,040 shares of the basic materials company’s stock valued at $7,356,000 after purchasing an additional 14,390 shares during the last quarter. Caprock Group LLC acquired a new position in shares of Franco-Nevada in the 3rd quarter valued at approximately $4,382,000. Baader Bank Aktiengesellschaft boosted its stake in shares of Franco-Nevada by 110.3% during the 3rd quarter. Baader Bank Aktiengesellschaft now owns 3,260 shares of the basic materials company’s stock valued at $704,000 after buying an additional 1,710 shares during the last quarter. Profund Advisors LLC grew its position in shares of Franco-Nevada by 47.1% during the third quarter. Profund Advisors LLC now owns 23,773 shares of the basic materials company’s stock worth $5,299,000 after buying an additional 7,614 shares in the last quarter. Finally, Gruss & Co. LLC bought a new stake in shares of Franco-Nevada in the third quarter worth $557,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Weiss Ratings upgraded shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Jefferies Financial Group restated a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a research note on Sunday, December 7th. Canaccord Genuity Group downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada raised Franco-Nevada from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $225.00 to $250.00 in a report on Wednesday, December 10th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $254.38.

Franco-Nevada Stock Up 5.5%

Shares of NYSE:FNV opened at $252.51 on Friday. The company has a market cap of $48.68 billion, a PE ratio of 52.94, a P/E/G ratio of 1.19 and a beta of 0.47. Franco-Nevada Corporation has a fifty-two week low of $137.05 and a fifty-two week high of $273.55. The firm has a 50-day simple moving average of $229.42 and a 200 day simple moving average of $206.69.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a $0.44 dividend. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, March 12th. Franco-Nevada’s dividend payout ratio is 31.87%.

Franco-Nevada 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.