Northwestern Mutual Investment Management Company LLC Lowers Stock Position in Franco-Nevada Corporation $FNV

Northwestern Mutual Investment Management Company LLC trimmed its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 5.8% during the third quarter, Holdings Channel.com reports. The fund owned 40,133 shares of the basic materials company’s stock after selling 2,476 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Franco-Nevada were worth $8,933,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Arnhold LLC acquired a new stake in Franco-Nevada in the 3rd quarter valued at approximately $267,000. PNC Financial Services Group Inc. boosted its position in shares of Franco-Nevada by 2.2% during the third quarter. PNC Financial Services Group Inc. now owns 5,002 shares of the basic materials company’s stock worth $1,115,000 after buying an additional 108 shares during the period. HighTower Advisors LLC grew its stake in shares of Franco-Nevada by 0.9% in the third quarter. HighTower Advisors LLC now owns 84,809 shares of the basic materials company’s stock valued at $18,906,000 after buying an additional 727 shares in the last quarter. Cidel Asset Management Inc. raised its holdings in shares of Franco-Nevada by 5.7% in the 3rd quarter. Cidel Asset Management Inc. now owns 2,772 shares of the basic materials company’s stock valued at $617,000 after buying an additional 150 shares during the period. Finally, Lafayette Investments Inc. lifted its stake in Franco-Nevada by 2.4% during the 3rd quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company’s stock worth $561,000 after acquiring an additional 60 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Trading Up 5.5%

Franco-Nevada stock opened at $252.51 on Monday. The company has a fifty day simple moving average of $229.42 and a 200-day simple moving average of $207.34. The stock has a market cap of $48.68 billion, a P/E ratio of 52.94, a price-to-earnings-growth ratio of 1.25 and a beta of 0.47. Franco-Nevada Corporation has a 12-month low of $137.05 and a 12-month high of $273.55.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be issued a $0.44 dividend. 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. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s dividend payout ratio (DPR) is currently 31.87%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FNV. HC Wainwright lifted their target price on Franco-Nevada from $210.00 to $285.00 and gave the company a “buy” rating in a research report on Friday. UBS Group reaffirmed a “buy” rating and set a $310.00 target price on shares of Franco-Nevada in a research note on Friday, January 30th. Royal Bank Of Canada upgraded shares of 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. Zacks Research downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Canaccord Genuity Group lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. 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, Franco-Nevada currently has an average rating of “Moderate Buy” and an average price target of $254.38.

About Franco-Nevada

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.