IFP Advisors Inc Grows Stock Position in Franco-Nevada Co. (NYSE:FNV)

IFP Advisors Inc increased its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 29.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,783 shares of the basic materials company’s stock after purchasing an additional 1,307 shares during the quarter. IFP Advisors Inc’s holdings in Franco-Nevada were worth $681,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FNV. Van ECK Associates Corp grew its position in shares of Franco-Nevada by 2.3% during the fourth quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock worth $1,004,046,000 after buying an additional 193,968 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after acquiring an additional 424,810 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in shares of Franco-Nevada by 19.4% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after purchasing an additional 537,047 shares during the last quarter. M&G PLC increased its position in shares of Franco-Nevada by 3.2% in the 3rd 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 last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Franco-Nevada by 2.2% in the 3rd quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company’s stock valued at $171,513,000 after purchasing an additional 29,512 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Up 0.3 %

Shares of NYSE FNV opened at $141.26 on Friday. The company’s 50-day moving average price is $130.79 and its 200 day moving average price is $126.37. Franco-Nevada Co. has a 52 week low of $103.64 and a 52 week high of $144.27. The stock has a market cap of $27.20 billion, a price-to-earnings ratio of -44.70, a PEG ratio of 9.78 and a beta of 0.74.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 1.08%. Franco-Nevada’s dividend payout ratio is currently -48.10%.

Analyst Ratings Changes

A number of equities analysts recently commented on FNV shares. UBS Group began coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They set a “buy” rating and a $160.00 target price for the company. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Royal Bank of Canada upped their price target on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Scotiabank cut their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus 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.