Carnegie Lake Advisors LLC Purchases New Holdings in Franco-Nevada Co. (NYSE:FNV)

Carnegie Lake Advisors LLC purchased a new stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,500 shares of the basic materials company's stock, valued at approximately $294,000.

Several other large investors have also made changes to their positions in FNV. Covea Finance increased its holdings in Franco-Nevada by 2.7% in the fourth quarter. Covea Finance now owns 101,320 shares of the basic materials company's stock valued at $11,895,000 after purchasing an additional 2,700 shares during the last quarter. M&G PLC increased 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 valued at $208,645,000 after purchasing an additional 51,996 shares during the last quarter. Telemark Asset Management LLC increased 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 valued at $6,212,000 after purchasing an additional 20,000 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in 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 valued at $116,277,000 after purchasing an additional 17,232 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in 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 valued at $433,538,000 after purchasing an additional 424,810 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Franco-Nevada Stock Down 3.9 %

Shares of NYSE:FNV traded down $5.61 during mid-day trading on Friday, reaching $138.37. 614,397 shares of the stock were exchanged, compared to its average volume of 644,293. The company has a market cap of $26.64 billion, a P/E ratio of -43.79, a P/E/G ratio of 9.88 and a beta of 0.74. Franco-Nevada Co. has a one year low of $103.64 and a one year high of $144.27. The stock's 50 day simple moving average is $127.17 and its 200-day simple moving average is $125.32.

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 dividend of $0.38 per share. 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 dividend on an annualized basis and a dividend yield of 1.10%. Franco-Nevada's dividend payout ratio (DPR) is presently -45.57%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FNV shares. HC Wainwright reiterated a "buy" rating and issued a $155.00 price objective on shares of Franco-Nevada in a report on Tuesday, January 28th. UBS Group started coverage on Franco-Nevada in a report on Monday, November 18th. They issued a "buy" rating and a $160.00 price target for the company. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Finally, Royal Bank of Canada increased their price target on Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.