Franco-Nevada Co. (NYSE:FNV) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 9,594.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,948 shares of the basic materials company's stock after buying an additional 95,948 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.05% of Franco-Nevada worth $11,400,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FNV. Laurel Wealth Advisors LLC purchased a new position in Franco-Nevada in the fourth quarter valued at about $47,000. Point72 DIFC Ltd purchased a new position in shares of Franco-Nevada during the 3rd quarter valued at approximately $52,000. Erste Asset Management GmbH acquired a new stake in shares of Franco-Nevada during the third quarter worth approximately $55,000. Birch Capital Management LLC grew its position in shares of Franco-Nevada by 37.9% during the fourth quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company's stock worth $128,000 after buying an additional 298 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Franco-Nevada in the third quarter worth $147,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. HC Wainwright reissued a "buy" rating and set a $155.00 price objective on shares of Franco-Nevada in a report on Tuesday, January 28th. Scotiabank decreased their price target on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a research note on Friday, November 8th. UBS Group started coverage on Franco-Nevada in a research note on Monday, November 18th. They set a "buy" rating and a $160.00 price objective on the stock. Royal Bank of Canada lifted 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. Finally, Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $146.71.

Franco-Nevada Stock Down 2.3 %

FNV stock traded down $3.22 during mid-day trading on Friday, reaching $138.51. The company had a trading volume of 545,147 shares, compared to its average volume of 647,310. Franco-Nevada Co. has a one year low of $103.64 and a one year high of $144.27. The stock has a market capitalization of $26.67 billion, a P/E ratio of -43.83, a P/E/G ratio of 9.66 and a beta of 0.74. The stock's 50-day simple moving average is $128.96 and its two-hundred day simple moving average is $125.80.

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 given a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 1.10%. Franco-Nevada's dividend payout ratio (DPR) is currently -45.57%.

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.