Swiss National Bank trimmed its stake in Franco-Nevada Co. (NYSE:FNV – Free Report) (TSE:FNV) by 3.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 558,760 shares of the basic materials company’s stock after selling 22,800 shares during the quarter. Swiss National Bank’s holdings in Franco-Nevada were worth $65,630,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new stake in Franco-Nevada in the 4th quarter worth approximately $47,000. Point72 DIFC Ltd acquired a new position in shares of Franco-Nevada in the third quarter worth $52,000. Erste Asset Management GmbH purchased a new stake in shares of Franco-Nevada during the third quarter worth $55,000. SBI Securities Co. Ltd. acquired a new stake in Franco-Nevada during the fourth quarter valued at $73,000. Finally, Jones Financial Companies Lllp grew its stake in Franco-Nevada by 25.6% in the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company’s stock valued at $73,000 after purchasing an additional 126 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.
Franco-Nevada Price Performance
Shares of FNV opened at $153.45 on Friday. The company has a market capitalization of $29.55 billion, a PE ratio of -48.56, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $153.84. The company’s fifty day moving average price is $136.67 and its 200 day moving average price is $128.12.
Franco-Nevada Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.38 dividend. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 0.99%. Franco-Nevada’s dividend payout ratio (DPR) is presently 53.15%.
Analyst Ratings Changes
Several brokerages have recently issued reports on FNV. HC Wainwright lifted their price target on Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, March 11th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $153.63.
Get Our Latest Stock Report on Franco-Nevada
Franco-Nevada 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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