Atria Wealth Solutions Inc. Purchases 5,219 Shares of Franco-Nevada Co. (NYSE:FNV)

Atria Wealth Solutions Inc. grew its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 64.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,282 shares of the basic materials company’s stock after buying an additional 5,219 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Franco-Nevada were worth $1,562,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Franco-Nevada by 76.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock valued at $159,530,000 after buying an additional 556,894 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in 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 acquiring an additional 537,047 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Franco-Nevada by 13.9% in the third 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 during the last quarter. Two Sigma Advisers LP lifted its position in shares of Franco-Nevada by 60.1% during the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock worth $119,069,000 after purchasing an additional 359,900 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake 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 valued at $1,004,046,000 after purchasing an additional 193,968 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FNV. 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 boosted their target price on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. HC Wainwright reaffirmed a “buy” rating and set a $155.00 price target on shares of Franco-Nevada in a research note on Tuesday, January 28th. UBS Group initiated coverage on Franco-Nevada in a research report on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective for the company. Finally, Scotiabank cut their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.71.

Franco-Nevada Trading Down 2.3 %

Franco-Nevada stock opened at $138.51 on Monday. The firm has a market capitalization of $26.67 billion, a P/E ratio of -43.83, a PEG ratio of 9.78 and a beta of 0.74. The business has a 50-day moving average of $128.96 and a 200-day moving average of $125.90. Franco-Nevada Co. has a 1 year low of $103.64 and a 1 year high of $144.27.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio 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.