Sprott Inc. Purchases 42,798 Shares of Franco-Nevada Co. (NYSE:FNV)

Sprott Inc. increased its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 22.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 234,136 shares of the basic materials company’s stock after purchasing an additional 42,798 shares during the quarter. Franco-Nevada makes up 1.6% of Sprott Inc.’s holdings, making the stock its 17th largest position. Sprott Inc. owned about 0.12% of Franco-Nevada worth $27,530,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of FNV. Creative Planning lifted its holdings in Franco-Nevada by 3.4% during the 3rd quarter. Creative Planning now owns 12,456 shares of the basic materials company’s stock valued at $1,548,000 after purchasing an additional 409 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Franco-Nevada in the third quarter valued at about $1,256,000. Assenagon Asset Management S.A. lifted its stake in shares of Franco-Nevada by 5.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 7,325 shares of the basic materials company’s stock worth $911,000 after buying an additional 369 shares during the last quarter. Forsta AP Fonden boosted its holdings in shares of Franco-Nevada by 11.9% during the 3rd quarter. Forsta AP Fonden now owns 38,500 shares of the basic materials company’s stock worth $4,787,000 after buying an additional 4,100 shares during the period. Finally, Asahi Life Asset Management CO. LTD. acquired a new position in Franco-Nevada in the 3rd quarter valued at about $362,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $138.97 on Wednesday. Franco-Nevada Co. has a 52 week low of $103.64 and a 52 week high of $144.27. The stock’s fifty day moving average is $129.76 and its 200 day moving average is $126.16. The stock has a market capitalization of $26.76 billion, a P/E ratio of -43.98, a PEG ratio of 9.78 and a beta of 0.74.

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 is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is currently -48.10%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FNV. HC Wainwright restated a “buy” rating and set a $155.00 price objective on shares of Franco-Nevada in a research report on Tuesday, January 28th. Scotiabank dropped 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. UBS Group assumed coverage on Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective on the stock. Royal Bank of Canada increased their price objective on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.