Franco-Nevada Co. (NYSE:FNV) Shares Bought by IFP Advisors Inc

IFP Advisors Inc increased its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 29.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,783 shares of the basic materials company’s stock after buying an additional 1,307 shares during the period. IFP Advisors Inc’s holdings in Franco-Nevada were worth $681,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Covea Finance boosted its holdings in shares of Franco-Nevada by 2.7% in the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock valued at $11,895,000 after purchasing an additional 2,700 shares during the last quarter. M&G PLC raised its stake in shares of Franco-Nevada by 3.2% in the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after acquiring an additional 51,996 shares during the period. Horizon Kinetics Asset Management LLC lifted its holdings in shares of Franco-Nevada by 1.9% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock valued at $116,277,000 after acquiring an additional 17,232 shares in the last quarter. Telemark Asset Management LLC boosted its position in Franco-Nevada by 66.7% during the 3rd quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock worth $6,212,000 after purchasing an additional 20,000 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after purchasing an additional 424,810 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Stock Up 0.3 %

Shares of Franco-Nevada stock opened at $141.26 on Friday. Franco-Nevada Co. has a 12-month low of $103.64 and a 12-month high of $144.27. The firm has a market capitalization of $27.20 billion, a PE ratio of -44.70, a price-to-earnings-growth ratio of 9.78 and a beta of 0.74. The stock’s fifty day moving average is $130.79 and its 200-day moving average is $126.37.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.08%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently -48.10%.

Wall Street Analyst Weigh In

A number of brokerages have commented on FNV. Royal Bank of Canada boosted their price objective on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Scotiabank dropped their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. UBS Group began coverage on Franco-Nevada in a research note on Monday, November 18th. They set a “buy” rating and a $160.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $155.00 price target on shares of Franco-Nevada in a research report on Tuesday, January 28th. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and an average price target of $146.71.

Franco-Nevada Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.