HUB Investment Partners LLC Invests $605,000 in Franco-Nevada Corporation $FNV

HUB Investment Partners LLC acquired a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,713 shares of the basic materials company’s stock, valued at approximately $605,000.

Several other hedge funds also recently bought and sold shares of FNV. Intellectus Partners LLC boosted its holdings in Franco-Nevada by 36.5% in the 3rd quarter. Intellectus Partners LLC now owns 2,098 shares of the basic materials company’s stock valued at $468,000 after purchasing an additional 561 shares during the period. Integrated Quantitative Investments LLC bought a new position in shares of Franco-Nevada in the third quarter worth $1,231,000. Dimensional Fund Advisors LP raised its position in shares of Franco-Nevada by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 270,963 shares of the basic materials company’s stock worth $60,385,000 after buying an additional 8,321 shares in the last quarter. Montag A & Associates Inc. boosted its stake in Franco-Nevada by 150.0% during the third quarter. Montag A & Associates Inc. now owns 250 shares of the basic materials company’s stock valued at $56,000 after buying an additional 150 shares during the period. Finally, Cresset Asset Management LLC boosted its stake in Franco-Nevada by 23.3% during the third quarter. Cresset Asset Management LLC now owns 3,034 shares of the basic materials company’s stock valued at $676,000 after buying an additional 573 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Up 1.8%

NYSE FNV opened at $259.83 on Monday. The company has a 50-day simple moving average of $245.40 and a two-hundred day simple moving average of $217.07. Franco-Nevada Corporation has a 12-month low of $140.03 and a 12-month high of $285.67. The firm has a market cap of $50.10 billion, a price-to-earnings ratio of 54.47, a PEG ratio of 3.45 and a beta of 0.45.

Franco-Nevada Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Weiss Ratings lowered Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Royal Bank Of Canada upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $225.00 to $250.00 in a research report on Wednesday, December 10th. Scotiabank raised their target price on shares of Franco-Nevada from $225.00 to $283.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.