Franco-Nevada Corporation $FNV Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,014,235 shares of the basic materials company’s stock after selling 19,548 shares during the period. JPMorgan Chase & Co.’s holdings in Franco-Nevada were worth $226,083,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. MTM Investment Management LLC acquired a new stake in shares of Franco-Nevada in the 2nd quarter worth $32,000. Smartleaf Asset Management LLC raised its holdings in Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares in the last quarter. Golden State Wealth Management LLC lifted its position in Franco-Nevada by 78.3% in the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 90 shares during the period. CENTRAL TRUST Co lifted its position in Franco-Nevada by 590.9% in the second quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 195 shares during the period. Finally, City Holding Co. purchased a new stake in Franco-Nevada in the 3rd quarter valued at approximately $56,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

FNV opened at $260.36 on Friday. Franco-Nevada Corporation has a 1-year low of $137.05 and a 1-year high of $273.55. The stock has a market cap of $50.20 billion, a P/E ratio of 54.58, a P/E/G ratio of 1.27 and a beta of 0.47. The stock’s 50 day simple moving average is $234.06 and its 200 day simple moving average is $209.91.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be given a $0.44 dividend. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, March 12th. Franco-Nevada’s dividend payout ratio (DPR) is 31.87%.

Wall Street Analysts Forecast Growth

FNV has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $228.00 target price on shares of Franco-Nevada in a research note on Sunday, December 7th. Scotiabank upped their price objective on Franco-Nevada from $225.00 to $283.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. HC Wainwright increased their price objective on Franco-Nevada from $210.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Weiss Ratings raised Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Finally, Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $254.38.

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.