Tcfg Wealth Management LLC Has $2.72 Million Holdings in Franco-Nevada Co. (NYSE:FNV)

Tcfg Wealth Management LLC trimmed its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 24.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 23,134 shares of the basic materials company’s stock after selling 7,344 shares during the period. Franco-Nevada accounts for 1.4% of Tcfg Wealth Management LLC’s holdings, making the stock its 13th biggest position. Tcfg Wealth Management LLC’s holdings in Franco-Nevada were worth $2,720,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new position in shares of Franco-Nevada during the fourth quarter worth approximately $47,000. Point72 DIFC Ltd bought a new stake in Franco-Nevada during the third quarter worth $52,000. Erste Asset Management GmbH bought a new stake in Franco-Nevada during the third quarter worth $55,000. Principal Securities Inc. grew its holdings in Franco-Nevada by 290.5% during the fourth quarter. Principal Securities Inc. now owns 863 shares of the basic materials company’s stock worth $101,000 after buying an additional 642 shares in the last quarter. Finally, Birch Capital Management LLC grew its holdings in Franco-Nevada by 37.9% during the fourth quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock worth $128,000 after buying an additional 298 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

FNV stock opened at $138.37 on Friday. The company has a market capitalization of $26.64 billion, a price-to-earnings ratio of -43.79, a PEG ratio of 9.88 and a beta of 0.74. Franco-Nevada Co. has a fifty-two week low of $103.64 and a fifty-two week high of $144.27. The stock has a fifty day moving average of $127.17 and a 200-day moving average of $125.31.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.38 per share. This is an increase 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 dividend yield of 1.10%. Franco-Nevada’s dividend payout ratio is presently -45.57%.

Analyst Upgrades and Downgrades

FNV has been the subject of several recent research reports. Scotiabank decreased their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. UBS Group began coverage on Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective for the company. Finally, Royal Bank of Canada upped their price objective on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $146.71.

About Franco-Nevada

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.