Oxbow Advisors LLC Lowers Position in Franco-Nevada Co. (NYSE:FNV)

Oxbow Advisors LLC cut its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,274 shares of the basic materials company’s stock after selling 588 shares during the quarter. Oxbow Advisors LLC’s holdings in Franco-Nevada were worth $1,914,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Van ECK Associates Corp increased its position in shares of Franco-Nevada by 2.3% during the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock valued at $1,004,046,000 after purchasing an additional 193,968 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Franco-Nevada by 13.9% during 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 during the last quarter. EdgePoint Investment Group Inc. increased its position in shares of Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after purchasing an additional 537,047 shares during the last quarter. M&G PLC increased its position in shares of Franco-Nevada by 3.2% during 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 purchasing an additional 51,996 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of Franco-Nevada by 2.2% during the 3rd quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company’s stock valued at $171,513,000 after purchasing an additional 29,512 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on FNV. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Royal Bank of Canada increased their price target 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. UBS Group began coverage on Franco-Nevada in a research note on Monday, November 18th. They set a “buy” rating and a $160.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $155.00 price target on shares of Franco-Nevada in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $146.71.

Franco-Nevada Stock Down 2.3 %

Shares of NYSE FNV opened at $138.51 on Friday. Franco-Nevada Co. has a 52 week low of $103.64 and a 52 week high of $144.27. The business has a 50-day simple moving average of $128.96 and a two-hundred day simple moving average of $125.80. The company has a market cap of $26.67 billion, a P/E ratio of -43.83, a P/E/G ratio of 9.66 and a beta of 0.74.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 1.10%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio (DPR) is currently -45.57%.

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.