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

Northwestern Mutual Investment Management Company LLC trimmed its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,133 shares of the basic materials company’s stock after selling 2,476 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Franco-Nevada were worth $8,933,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. MTM Investment Management LLC acquired a new position in Franco-Nevada during the second quarter worth $32,000. Smartleaf Asset Management LLC increased its stake in shares of 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 raised its position in shares of Franco-Nevada by 78.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 90 shares during the last quarter. CENTRAL TRUST Co lifted its stake in Franco-Nevada by 590.9% in the 2nd quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock valued at $37,000 after buying an additional 195 shares in the last quarter. Finally, City Holding Co. purchased a new position in Franco-Nevada in the 3rd quarter valued at about $56,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

FNV has been the subject of a number of research analyst reports. HC Wainwright increased their target price on Franco-Nevada from $210.00 to $285.00 and gave the company a “buy” rating in a report on Friday. Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Weiss Ratings raised shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Scotiabank boosted their price target on shares of Franco-Nevada from $225.00 to $283.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Finally, TD Securities decreased their target price on shares of Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $254.38.

Franco-Nevada Price Performance

Shares of FNV stock opened at $252.51 on Monday. The company has a market capitalization of $48.68 billion, a PE ratio of 52.94, a price-to-earnings-growth ratio of 1.25 and a beta of 0.47. The firm’s 50-day moving average is $229.42 and its two-hundred day moving average is $207.34. 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. Investors of record on Thursday, March 12th will be given a $0.44 dividend. The ex-dividend date is Thursday, March 12th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 annualized dividend and a yield of 0.7%. Franco-Nevada’s dividend payout ratio (DPR) is currently 31.87%.

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.