Flagship Harbor Advisors LLC lifted its stake in Franco-Nevada Co. (NYSE:FNV – Free Report) (TSE:FNV) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,715 shares of the basic materials company’s stock after purchasing an additional 122 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Franco-Nevada were worth $319,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the stock. Covea Finance lifted its position in Franco-Nevada by 2.7% in the fourth quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock worth $11,895,000 after buying an additional 2,700 shares during the last quarter. M&G PLC lifted its holdings 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 worth $208,645,000 after acquiring an additional 51,996 shares during the last quarter. Telemark Asset Management LLC boosted its stake in shares of Franco-Nevada by 66.7% during the 3rd quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock worth $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 3rd 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 last quarter. Finally, Victory Capital Management Inc. raised its position in Franco-Nevada by 13.9% in 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 purchasing an additional 424,810 shares during the period. Institutional investors own 77.06% of the company’s stock.
Franco-Nevada Stock Performance
NYSE FNV opened at $130.90 on Thursday. Franco-Nevada Co. has a one year low of $103.64 and a one year high of $137.60. The company has a market capitalization of $25.20 billion, a price-to-earnings ratio of -41.42, a price-to-earnings-growth ratio of 7.08 and a beta of 0.72. The company’s 50-day simple moving average is $122.89 and its two-hundred day simple moving average is $124.12.
Franco-Nevada Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s payout ratio is -45.57%.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. UBS Group started coverage on Franco-Nevada in a research report on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective on the stock. Scotiabank reduced their target price on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. HC Wainwright reissued a “buy” rating and set a $155.00 target price on shares of Franco-Nevada in a research note on Tuesday. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Four 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.com, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.
Get Our Latest Stock Report on Franco-Nevada
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.
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