Franco-Nevada Co. (NYSE:FNV) Shares Purchased by Beacon Financial Group

Beacon Financial Group raised its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,150 shares of the basic materials company’s stock after buying an additional 200 shares during the period. Beacon Financial Group’s holdings in Franco-Nevada were worth $606,000 at the end of the most recent reporting period.

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

Franco-Nevada Trading Down 0.2 %

Shares of NYSE:FNV opened at $142.43 on Thursday. Franco-Nevada Co. has a 12-month low of $103.64 and a 12-month high of $143.77. The company has a fifty day simple moving average of $126.40 and a 200 day simple moving average of $125.10. The firm has a market cap of $27.42 billion, a PE ratio of -45.07, a price-to-earnings-growth ratio of 9.88 and a beta of 0.74.

Franco-Nevada Increases Dividend

The firm 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 dividend of $0.38 per share. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 1.07%. Franco-Nevada’s payout ratio is presently -45.57%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FNV. UBS Group began coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $155.00 target price on shares of Franco-Nevada in a research report on Tuesday, January 28th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Jefferies Financial Group reduced their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Finally, Scotiabank dropped their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and an average price target of $146.71.

Franco-Nevada Company 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.