Today: Today, 717 Shares of Franco-Nevada Corp. (FNV) are sold by Confluence Investment Management LLC

Today, 717 Shares of Franco-Nevada Corp. (FNV) are sold by Confluence Investment Management LLC

Confluence Investment Management LLC reduced its position in shares of Franco-Nevada Corp. (NYSE:FNV) (TSE:FNV) by 13.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,724 shares of the company’s stock after selling 717 shares during the period. Confluence Investment Management LLC’s holdings in Franco-Nevada Corp. were worth $330,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CIBC World Markets Inc. raised its position in Franco-Nevada Corp. by 3.7% in the third quarter. CIBC World Markets Inc. now owns 2,596,552 shares of the company’s stock valued at $181,421,000 after buying an additional 91,668 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in Franco-Nevada Corp. by 2.5% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 274,847 shares of the company’s stock valued at $25,192,000 after buying an additional 6,700 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. raised its position in Franco-Nevada Corp. by 9.8% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 317,898 shares of the company’s stock valued at $29,139,000 after buying an additional 28,300 shares in the last quarter. Quantbot Technologies LP raised its position in Franco-Nevada Corp. by 47.6% in the third quarter. Quantbot Technologies LP now owns 12,830 shares of the company’s stock valued at $896,000 after buying an additional 4,137 shares in the last quarter. Finally, APG Asset Management N.V. raised its position in Franco-Nevada Corp. by 0.3% in the third quarter. APG Asset Management N.V. now owns 1,616,841 shares of the company’s stock valued at $148,200,000 after buying an additional 4,825 shares in the last quarter. Hedge funds and other institutional investors own 63.73% of the company’s stock.

Franco-Nevada Corp. (NYSE:FNV) traded down 1.00% during mid-day trading on Friday, hitting $56.42. The company had a trading volume of 396,189 shares. The company’s 50 day moving average price is $63.15 and its 200-day moving average price is $70.00. Franco-Nevada Corp. has a 12-month low of $41.47 and a 12-month high of $81.16. The firm has a market capitalization of $10.06 billion, a PE ratio of 101.29 and a beta of 0.22.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. Shareholders of record on Thursday, December 8th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 6th. This represents a $0.88 dividend on an annualized basis and a yield of 1.54%. Franco-Nevada Corp.’s dividend payout ratio (DPR) is currently 169.23%.

FNV has been the topic of several recent analyst reports. Canaccord Genuity upgraded Franco-Nevada Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, November 15th. They noted that the move was a valuation call. Vetr upgraded Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $67.14 target price on the stock in a report on Thursday, November 10th. TD Securities reiterated a “hold” rating and set a $77.00 target price on shares of Franco-Nevada Corp. in a report on Thursday, November 10th. Desjardins reiterated a “buy” rating and set a $115.00 target price (up from $110.00) on shares of Franco-Nevada Corp. in a report on Thursday, November 10th. Finally, TheStreet upgraded Franco-Nevada Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $76.87.

About Franco-Nevada Corp.

Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.

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