Korea Investment CORP Has $54.27 Million Position in Franco-Nevada Corporation $FNV

Korea Investment CORP increased its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 97.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,749 shares of the basic materials company’s stock after purchasing an additional 120,595 shares during the period. Korea Investment CORP owned 0.13% of Franco-Nevada worth $54,266,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FNV. AQR Capital Management LLC acquired a new stake in shares of Franco-Nevada in the 1st quarter valued at $241,000. NewEdge Advisors LLC lifted its stake in shares of Franco-Nevada by 16.7% during the first 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 during the period. Intech Investment Management LLC boosted its holdings in Franco-Nevada by 118.3% in the first quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock valued at $1,460,000 after acquiring an additional 5,032 shares during the last quarter. Acadian Asset Management LLC increased its position in 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 purchasing an additional 2,400 shares during the period. Finally, Atria Investments Inc acquired a new stake in Franco-Nevada in the second quarter worth about $362,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $259.83 on Monday. The company has a 50 day moving average price of $245.40 and a two-hundred day moving average price of $217.07. The company has a market capitalization of $50.10 billion, a PE ratio of 54.47, a PEG ratio of 3.45 and a beta of 0.45. Franco-Nevada Corporation has a 52 week low of $140.03 and a 52 week high of $285.67.

Franco-Nevada Increases Dividend

The company 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 represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s dividend payout ratio is currently 31.87%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Zacks Research upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. 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 note on Monday, January 26th. UBS Group reaffirmed a “buy” rating and issued a $310.00 price objective on shares of Franco-Nevada in a research note on Friday, January 30th. Jefferies Financial Group reaffirmed a “hold” rating and set a $228.00 target price on shares of Franco-Nevada in a report on Sunday, December 7th. Finally, Weiss Ratings cut shares of Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. One 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $254.38.

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.