Shell Asset Management Co. Sells 10,026 Shares of Franco-Nevada Corporation $FNV

Shell Asset Management Co. trimmed its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 55.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,165 shares of the basic materials company’s stock after selling 10,026 shares during the quarter. Shell Asset Management Co.’s holdings in Franco-Nevada were worth $1,818,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FNV. Vanguard Group Inc. increased its position in shares of Franco-Nevada by 3.1% during the second quarter. Vanguard Group Inc. now owns 8,086,420 shares of the basic materials company’s stock valued at $1,327,612,000 after buying an additional 241,081 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Franco-Nevada by 35.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock valued at $528,289,000 after acquiring an additional 838,853 shares in the last quarter. Norges Bank bought a new stake in Franco-Nevada during the 2nd quarter worth approximately $460,218,000. Geode Capital Management LLC lifted its stake in Franco-Nevada by 20.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,500,290 shares of the basic materials company’s stock worth $247,051,000 after purchasing an additional 252,540 shares in the last quarter. Finally, Amundi boosted its holdings in Franco-Nevada by 6.5% in the 2nd quarter. Amundi now owns 1,211,835 shares of the basic materials company’s stock valued at $199,274,000 after purchasing an additional 74,490 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $252.51 on Monday. The stock has a market capitalization of $48.68 billion, a P/E ratio of 52.94, a PEG ratio of 1.25 and a beta of 0.47. Franco-Nevada Corporation has a one year low of $137.05 and a one year high of $273.55. The firm’s 50 day simple moving average is $229.42 and its two-hundred day simple moving average is $207.34.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a dividend of $0.44 per share. 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%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FNV shares. UBS Group reaffirmed a “buy” rating and issued a $310.00 price target on shares of Franco-Nevada in a report on Friday, January 30th. Royal Bank Of Canada raised Franco-Nevada from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $225.00 to $250.00 in a report on Wednesday, December 10th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $228.00 price target on shares of Franco-Nevada in a report on Sunday, December 7th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. 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 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.