Public Sector Pension Investment Board Has $7.36 Million Stock Position in Franco-Nevada Corporation $FNV

Public Sector Pension Investment Board lifted its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 77.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 33,040 shares of the basic materials company’s stock after buying an additional 14,390 shares during the period. Public Sector Pension Investment Board’s holdings in Franco-Nevada were worth $7,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MTM Investment Management LLC bought a new stake in shares of Franco-Nevada in the second quarter worth about $32,000. Smartleaf Asset Management LLC increased its stake in Franco-Nevada by 600.0% during the 2nd 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 holdings in 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 buying an additional 90 shares during the period. CENTRAL TRUST Co raised its holdings in Franco-Nevada by 590.9% during the 2nd quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock worth $37,000 after buying an additional 195 shares during the period. Finally, City Holding Co. bought a new position in Franco-Nevada in the third quarter valued at approximately $56,000. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $249.38 on Wednesday. The company has a market cap of $48.08 billion, a price-to-earnings ratio of 52.28, a P/E/G ratio of 1.25 and a beta of 0.47. The firm has a 50-day moving average of $231.42 and a 200-day moving average of $208.62. Franco-Nevada Corporation has a one year low of $137.05 and a one year high of $273.55.

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%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 12th. Franco-Nevada’s payout ratio is currently 31.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Scotiabank increased their price objective 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. UBS Group reissued a “buy” rating and issued a $310.00 price target on shares of Franco-Nevada in a research note on Friday, January 30th. Royal Bank Of Canada upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $225.00 to $250.00 in a report on Wednesday, December 10th. Canaccord Genuity Group downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.38.

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.