Private Advisor Group LLC Reduces Stake in Franco-Nevada Co. (NYSE:FNV)

Private Advisor Group LLC lowered its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,956 shares of the basic materials company’s stock after selling 473 shares during the period. Private Advisor Group LLC’s holdings in Franco-Nevada were worth $2,934,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FNV. Essex Financial Services Inc. grew its stake in shares of Franco-Nevada by 2.2% during the 4th quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock valued at $458,000 after purchasing an additional 84 shares during the period. Mutual Advisors LLC boosted its holdings in shares of Franco-Nevada by 4.0% in the fourth quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after buying an additional 96 shares during the last quarter. Sustainable Insight Capital Management LLC grew its position in Franco-Nevada by 2.7% during the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock valued at $441,000 after buying an additional 100 shares during the period. Huntington National Bank increased its holdings in Franco-Nevada by 7.4% during the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after buying an additional 102 shares during the last quarter. Finally, Blossom Wealth Management raised its position in Franco-Nevada by 3.9% in the fourth quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock worth $335,000 after acquiring an additional 108 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FNV. Royal Bank of Canada boosted their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Franco-Nevada in a research note on Tuesday, January 28th. Scotiabank cut their price objective on 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. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $146.71.

Franco-Nevada Trading Up 0.7 %

NYSE FNV opened at $139.72 on Tuesday. Franco-Nevada Co. has a 12 month low of $103.64 and a 12 month high of $144.27. The stock’s 50 day moving average is $129.37 and its 200 day moving average is $126.04. The stock has a market cap of $26.90 billion, a PE ratio of -44.21, a P/E/G ratio of 9.78 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. Investors of record on Thursday, March 13th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.09%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently -48.10%.

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.