Van ECK Associates Corp Acquires 193,968 Shares of Franco-Nevada Co. (NYSE:FNV)

Van ECK Associates Corp boosted its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,538,788 shares of the basic materials company’s stock after purchasing an additional 193,968 shares during the quarter. Franco-Nevada comprises 1.3% of Van ECK Associates Corp’s portfolio, making the stock its 15th largest position. Van ECK Associates Corp’s holdings in Franco-Nevada were worth $1,004,046,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covea Finance boosted its position in shares of Franco-Nevada by 2.7% in the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock worth $11,895,000 after purchasing an additional 2,700 shares in the last quarter. M&G PLC boosted its holdings in Franco-Nevada by 3.2% in the third 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 in the last quarter. Telemark Asset Management LLC boosted its holdings in Franco-Nevada by 66.7% in the third quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock worth $6,212,000 after acquiring an additional 20,000 shares in the last quarter. Horizon Kinetics Asset Management LLC grew its stake in shares of Franco-Nevada by 1.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock worth $116,277,000 after acquiring an additional 17,232 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of 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 acquiring an additional 424,810 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Down 0.2 %

NYSE:FNV opened at $142.43 on Thursday. The company has a market cap of $27.42 billion, a PE ratio of -45.07, a price-to-earnings-growth ratio of 9.88 and a beta of 0.74. The company has a 50 day simple moving average of $126.40 and a two-hundred day simple moving average of $125.10. Franco-Nevada Co. has a 12 month low of $103.64 and a 12 month high of $143.77.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 1.07%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is presently -45.57%.

Analysts Set New Price Targets

FNV has been the topic of a number of analyst reports. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Jefferies Financial Group dropped their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Scotiabank reduced their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Franco-Nevada in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada increased their target price on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.