Franco-Nevada Co. (NYSE:FNV) Stake Lessened by Alberta Investment Management Corp

Alberta Investment Management Corp cut its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 484,351 shares of the basic materials company’s stock after selling 10,626 shares during the period. Alberta Investment Management Corp owned approximately 0.25% of Franco-Nevada worth $56,888,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FNV. Hudson Value Partners LLC lifted its stake in Franco-Nevada by 5.9% during the fourth quarter. Hudson Value Partners LLC now owns 32,279 shares of the basic materials company’s stock valued at $3,796,000 after purchasing an additional 1,790 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in Franco-Nevada by 64.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 13,282 shares of the basic materials company’s stock valued at $1,562,000 after purchasing an additional 5,219 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Franco-Nevada by 11.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,136,533 shares of the basic materials company’s stock valued at $133,548,000 after purchasing an additional 116,144 shares during the last quarter. Meixler Investment Management Ltd. lifted its stake in Franco-Nevada by 12.1% during the fourth quarter. Meixler Investment Management Ltd. now owns 24,760 shares of the basic materials company’s stock valued at $2,912,000 after purchasing an additional 2,674 shares during the last quarter. Finally, Allworth Financial LP lifted its position in shares of Franco-Nevada by 643.3% in the 4th quarter. Allworth Financial LP now owns 3,895 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 3,371 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Up 1.7 %

Shares of FNV stock opened at $140.69 on Wednesday. Franco-Nevada Co. has a 12-month low of $103.64 and a 12-month high of $144.27. The company has a market capitalization of $27.09 billion, a P/E ratio of -44.52, a P/E/G ratio of 9.54 and a beta of 0.74. The firm has a 50-day moving average price of $127.86 and a 200 day moving average price of $125.47.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Analyst Ratings Changes

Several equities research analysts recently commented on FNV shares. Canaccord Genuity Group upgraded shares of 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 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. 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 restated a “buy” rating and issued a $155.00 price target on shares of Franco-Nevada in a research report on Tuesday, January 28th. Finally, UBS Group initiated coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They issued a “buy” rating and a $160.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and an average price target of $146.71.

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.