Alberta Investment Management Corp Has $56.89 Million Stake in Franco-Nevada Co. (NYSE:FNV)

Alberta Investment Management Corp lowered its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.1% in the fourth quarter, Holdings Channel reports. The firm owned 484,351 shares of the basic materials company’s stock after selling 10,626 shares during the period. Alberta Investment Management Corp’s holdings in Franco-Nevada were worth $56,888,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Covea Finance grew its holdings 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 purchasing an additional 2,700 shares during the period. M&G PLC grew its holdings in 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 valued at $208,645,000 after purchasing an additional 51,996 shares during the period. Telemark Asset Management LLC grew its holdings in 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 valued at $6,212,000 after purchasing an additional 20,000 shares during the period. Horizon Kinetics Asset Management LLC grew its holdings in 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 valued at $116,277,000 after purchasing an additional 17,232 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in 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 valued at $433,538,000 after purchasing an additional 424,810 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Shares of FNV opened at $140.69 on Wednesday. Franco-Nevada Co. has a fifty-two week low of $103.64 and a fifty-two week high of $144.27. The firm has a market capitalization of $27.09 billion, a PE ratio of -44.52, a PEG ratio of 9.54 and a beta of 0.74. The company’s 50-day moving average is $127.86 and its 200-day moving average is $125.47.

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 1.08%. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is currently -45.57%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FNV shares. Royal Bank of Canada lifted their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. UBS Group started coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 price target on the stock. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, HC Wainwright restated a “buy” rating and set a $155.00 target price on shares of Franco-Nevada in a report on Tuesday, January 28th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.