Van ECK Associates Corp Reduces Stock Holdings in Franco-Nevada Corporation $FNV

Key Points

• VanECK reduced its FNV stake by 11% in Q3 (sold 818,749 shares) and now holds 6,599,001 shares—about 3.42% of Franco‑Nevada valued at $1.47 billion, representing roughly 1.4% of VanECK’s portfolio (its 18th largest holding).
• Several large institutions either boosted or initiated sizable positions (Norges Bank ~$460M new stake; First Eagle, Arrowstreet and Invesco all materially increased holdings), and institutional investors own 77.06% of the company.
• Franco‑Nevada raised its quarterly dividend to $0.44 (annualized $1.76, yield ~0.7%), and analysts maintain a consensus "Moderate Buy" rating with a $254.38 target after multiple price‑target increases.

Van ECK Associates Corp lowered its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 11.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,599,001 shares of the basic materials company's stock after selling 818,749 shares during the period. Franco-Nevada makes up approximately 1.4% of Van ECK Associates Corp's portfolio, making the stock its 18th largest position. Van ECK Associates Corp owned about 3.42% of Franco-Nevada worth $1,470,942,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Norges Bank acquired a new position in Franco-Nevada in the second quarter valued at about $460,218,000. First Eagle Investment Management LLC lifted its stake in Franco-Nevada by 26.4% during the third quarter. First Eagle Investment Management LLC now owns 4,049,187 shares of the basic materials company's stock worth $901,092,000 after purchasing an additional 846,950 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of 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 worth $528,289,000 after buying an additional 838,853 shares during the period. Picton Mahoney Asset Management purchased a new position in Franco-Nevada during the 2nd quarter valued at about $80,621,000. Finally, Invesco Ltd. increased its stake in Franco-Nevada by 110.6% during the second quarter. Invesco Ltd. now owns 902,017 shares of the basic materials company's stock worth $147,859,000 after purchasing an additional 473,697 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.

Franco-Nevada Stock Performance

NYSE:FNV opened at $263.33 on Tuesday. Franco-Nevada Corporation has a 1 year low of $140.03 and a 1 year high of $285.67. The stock has a market cap of $50.77 billion, a P/E ratio of 55.21, a P/E/G ratio of 3.45 and a beta of 0.45. The stock has a 50-day simple moving average of $246.52 and a 200-day simple moving average of $217.65.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be paid a $0.44 dividend. This is an increase from Franco-Nevada's previous quarterly dividend of $0.38. This represents a $1.76 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, March 12th. Franco-Nevada's payout ratio is currently 31.87%.

Wall Street Analysts Forecast Growth

FNV has been the subject of a number of research reports. Scotiabank lifted their price objective on shares of Franco-Nevada from $225.00 to $283.00 and gave the company a "sector perform" rating in a report on Monday, January 26th. HC Wainwright boosted their price target on shares of Franco-Nevada from $210.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, February 13th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Royal Bank Of Canada upgraded Franco-Nevada from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $225.00 to $250.00 in a report on Wednesday, December 10th. Finally, Weiss Ratings cut Franco-Nevada from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Franco-Nevada currently has a consensus rating of "Moderate Buy" and a consensus 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.

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