Bank of Montreal Can Acquires 454,175 Shares of Franco-Nevada Corporation $FNV

Key Points

• Bank of Montreal Can increased its stake in Franco‑Nevada by 8.9% in Q3, buying 454,175 shares to hold 5,560,980 shares (about 2.88% of the company) valued at roughly $1.24 billion.
• Franco‑Nevada raised its quarterly dividend to $0.44 (from $0.38), payable March 26 with record/ex‑div dates on March 12, equivalent to a $1.76 annualized payout and a 0.7% yield.
• Wall Street sentiment is a “Moderate Buy” (average target $254.38); the stock trades around $263.33 with a market cap of about $50.8 billion and a P/E of 55.2.

Bank of Montreal Can grew its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 8.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,560,980 shares of the basic materials company's stock after purchasing an additional 454,175 shares during the quarter. Bank of Montreal Can owned about 2.88% of Franco-Nevada worth $1,237,510,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Smartleaf Asset Management LLC increased its position 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 buying an additional 54 shares during the last quarter. Spire Wealth Management lifted its position in shares of Franco-Nevada by 13.4% in the third quarter. Spire Wealth Management now owns 475 shares of the basic materials company's stock worth $106,000 after buying an additional 56 shares during the last quarter. Lafayette Investments Inc. boosted its stake in shares of Franco-Nevada by 2.4% during the 3rd quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company's stock worth $561,000 after acquiring an additional 60 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Franco-Nevada by 19.6% during the 3rd quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company's stock worth $97,000 after acquiring an additional 71 shares in the last quarter. Finally, Golden State Wealth Management LLC increased 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 acquiring an additional 90 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Wall Street Analyst Weigh In

FNV has been the topic of a number of recent analyst reports. Wall Street Zen raised Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 24th. Jefferies Financial Group reiterated a "hold" rating and set a $228.00 price target on shares of Franco-Nevada in a report on Sunday, December 7th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Zacks Research upgraded shares of Franco-Nevada from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 27th. Finally, HC Wainwright upped their price objective on shares of Franco-Nevada from $210.00 to $285.00 and gave the stock a "buy" rating in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $254.38.

Franco-Nevada Stock Up 1.4%

FNV opened at $263.33 on Tuesday. The stock's 50 day moving average price is $246.52 and its two-hundred day moving average price is $217.65. The firm has a market capitalization of $50.77 billion, a P/E ratio of 55.21, a price-to-earnings-growth ratio of 3.45 and a beta of 0.45. Franco-Nevada Corporation has a 12-month low of $140.03 and a 12-month high of $285.67.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid 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 dividend yield of 0.7%. Franco-Nevada's dividend payout ratio is 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.

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