Intech Investment Management LLC Has $8.34 Million Stake in Franco-Nevada Corporation $FNV

Intech Investment Management LLC raised its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 244.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,481 shares of the basic materials company’s stock after purchasing an additional 26,597 shares during the quarter. Intech Investment Management LLC’s holdings in Franco-Nevada were worth $8,344,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FNV. AQR Capital Management LLC bought a new position in shares of Franco-Nevada in the first quarter valued at about $241,000. NewEdge Advisors LLC increased its position in Franco-Nevada by 16.7% in the 1st quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock valued at $1,038,000 after acquiring an additional 943 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Franco-Nevada by 800.0% in the first quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock worth $424,000 after acquiring an additional 2,400 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Franco-Nevada by 37.2% in the second quarter. Envestnet Asset Management Inc. now owns 80,096 shares of the basic materials company’s stock worth $13,129,000 after acquiring an additional 21,708 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Franco-Nevada during the second quarter worth approximately $2,795,000. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on FNV shares. Zacks Research lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Canaccord Genuity Group downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Jefferies Financial Group reiterated a “hold” rating and issued a $228.00 price target on shares of Franco-Nevada in a report on Sunday, December 7th. Finally, UBS Group reiterated a “buy” rating and issued a $310.00 price objective on shares of Franco-Nevada in a research report on Friday, January 30th. Seven 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 stock has an average rating of “Moderate Buy” and a consensus target price of $254.38.

Franco-Nevada Stock Up 0.0%

FNV stock opened at $280.83 on Friday. Franco-Nevada Corporation has a twelve month low of $138.59 and a twelve month high of $284.50. The company has a market cap of $54.14 billion, a P/E ratio of 58.87, a price-to-earnings-growth ratio of 1.40 and a beta of 0.47. The business’s fifty day moving average is $240.67 and its 200-day moving average is $213.52.

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 issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.6%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, March 12th. Franco-Nevada’s dividend payout ratio (DPR) is 31.87%.

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.