Franco-Nevada Corporation $FNV Shares Sold by Hillsdale Investment Management Inc.

by · The Markets Daily

Hillsdale Investment Management Inc. reduced its position in shares of Franco-Nevada Corporation (NYSE:FNV – Free Report) (TSE:FNV) by 31.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 35,893 shares of the basic materials company’s stock after selling 16,441 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Franco-Nevada were worth $7,987,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in Franco-Nevada by 27.6% during the third quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 54 shares during the period. Spire Wealth Management boosted its position in Franco-Nevada by 13.4% during the 3rd quarter. Spire Wealth Management now owns 475 shares of the basic materials company’s stock worth $106,000 after purchasing an additional 56 shares during the period. Lafayette Investments Inc. increased its holdings in Franco-Nevada by 2.4% in the 3rd quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company’s stock valued at $561,000 after purchasing an additional 60 shares in the last quarter. Versant Capital Management Inc increased its holdings in Franco-Nevada by 19.6% in the 3rd quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 71 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings 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 valued at $34,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of recent analyst reports. Zacks Research lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, February 4th. UBS Group restated a “buy” rating and set a $310.00 price objective on shares of Franco-Nevada in a research note on Friday, January 30th. TD Securities decreased their target price on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group restated a “hold” rating and set a $228.00 price target on shares of Franco-Nevada in a research report on Sunday, December 7th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and an average target price of $254.38.

View Our Latest Stock Analysis on FNV

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $260.36 on Friday. The company has a market cap of $50.20 billion, a PE ratio of 54.58, a price-to-earnings-growth ratio of 1.27 and a beta of 0.47. The firm has a 50 day simple moving average of $234.06 and a 200 day simple moving average of $209.91. Franco-Nevada Corporation has a 52 week low of $137.05 and a 52 week high of $273.55.

Franco-Nevada Increases Dividend

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

Franco-Nevada Company Profile

(Free Report)

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.

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