Gamco Investors INC. ET AL Has $6.02 Million Stock Holdings in Franco-Nevada Corporation $FNV

Gamco Investors INC. ET AL trimmed its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 9.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 27,017 shares of the basic materials company’s stock after selling 2,656 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Franco-Nevada were worth $6,017,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in Franco-Nevada by 27.6% in the third quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock valued at $55,000 after acquiring an additional 54 shares during the last quarter. Spire Wealth Management grew its holdings in Franco-Nevada by 13.4% during the 3rd quarter. Spire Wealth Management now owns 475 shares of the basic materials company’s stock worth $106,000 after acquiring an additional 56 shares during the period. Lafayette Investments Inc. raised its position in shares of Franco-Nevada by 2.4% during the 3rd quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company’s stock valued at $561,000 after acquiring an additional 60 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Franco-Nevada by 19.6% during the 3rd quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock valued at $97,000 after acquiring an additional 71 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in shares of Franco-Nevada by 78.3% in the 2nd 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. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FNV shares. Scotiabank raised their price target on Franco-Nevada from $225.00 to $283.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Weiss Ratings downgraded Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Canaccord Genuity Group lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. UBS Group restated a “buy” rating and set a $310.00 target price on shares of Franco-Nevada in a report on Friday, January 30th. Finally, Zacks Research upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $254.38.

Franco-Nevada Stock Up 1.8%

Shares of NYSE FNV opened at $259.83 on Monday. Franco-Nevada Corporation has a twelve month low of $140.03 and a twelve month high of $285.67. The stock has a market cap of $50.10 billion, a price-to-earnings ratio of 54.47, a P/E/G ratio of 3.45 and a beta of 0.45. The company’s fifty day moving average is $245.40 and its 200-day moving average is $217.07.

Franco-Nevada Increases Dividend

The firm 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 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 is Thursday, March 12th. Franco-Nevada’s dividend payout ratio is presently 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.