Integrated Quantitative Investments LLC Invests $1.23 Million in Franco-Nevada Corporation $FNV

Key Points

• Integrated Quantitative Investments LLC acquired a new stake of 5,524 shares in Franco‑Nevada (NYSE:FNV) during Q3, valued at approximately $1.23 million.
• Franco‑Nevada raised its quarterly dividend to $0.44 (annualized $1.76) from $0.38; the ex‑dividend date is March 12 with payment on March 26, implying about a 0.7% yield.
• Analysts show an average rating of Moderate Buy with an average price target of $254.38, and recent analyst actions include upgrades and targets as high as $285.

Integrated Quantitative Investments LLC acquired a new stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,524 shares of the basic materials company's stock, valued at approximately $1,231,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its position in Franco-Nevada by 27.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company's stock valued at $55,000 after acquiring an additional 54 shares in the last quarter. Spire Wealth Management increased its position in shares of Franco-Nevada by 13.4% during the third quarter. Spire Wealth Management now owns 475 shares of the basic materials company's stock worth $106,000 after acquiring an additional 56 shares during the period. Lafayette Investments Inc. boosted its holdings in Franco-Nevada by 2.4% in the third 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 during the period. Versant Capital Management Inc grew its stake in 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 purchasing an additional 71 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its position in Franco-Nevada by 78.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 90 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FNV shares. Royal Bank Of Canada raised Franco-Nevada from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $225.00 to $250.00 in a research report on Wednesday, December 10th. Jefferies Financial Group reissued a "hold" rating and issued a $228.00 price objective on shares of Franco-Nevada in a research report on Sunday, December 7th. Scotiabank lifted 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. HC Wainwright increased their target price on Franco-Nevada from $210.00 to $285.00 and gave the company a "buy" rating in a report on Friday, February 13th. Finally, TD Securities decreased their price target on Franco-Nevada from $247.00 to $225.00 and set a "hold" rating for the company in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $254.38.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $261.60 on Thursday. Franco-Nevada Corporation has a one year low of $140.03 and a one year high of $285.67. The company has a 50-day simple moving average of $243.78 and a 200-day simple moving average of $215.64. The stock has a market capitalization of $50.44 billion, a price-to-earnings ratio of 54.84, a PEG ratio of 3.49 and a beta of 0.45.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. This is a boost from Franco-Nevada's previous quarterly dividend of $0.38. The ex-dividend date is Thursday, March 12th. Franco-Nevada's dividend payout ratio (DPR) is currently 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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