Elevate Capital Advisors LLC Invests $2.38 Million in Franco-Nevada Co. (NYSE:FNV)

Elevate Capital Advisors LLC acquired a new stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 20,278 shares of the basic materials company's stock, valued at approximately $2,384,000. Franco-Nevada makes up approximately 2.1% of Elevate Capital Advisors LLC's investment portfolio, making the stock its 13th largest position.

Other institutional investors also recently made changes to their positions in the company. Mutual Advisors LLC raised its holdings in Franco-Nevada by 4.0% during the 4th quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company's stock valued at $309,000 after buying an additional 96 shares during the last quarter. Sustainable Insight Capital Management LLC raised its holdings in Franco-Nevada by 2.7% during the 4th quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company's stock valued at $441,000 after buying an additional 100 shares during the last quarter. Huntington National Bank raised its holdings in Franco-Nevada by 7.4% during the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company's stock valued at $185,000 after buying an additional 102 shares during the last quarter. Blossom Wealth Management raised its holdings in Franco-Nevada by 3.9% during the 4th quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company's stock valued at $335,000 after buying an additional 108 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its holdings in Franco-Nevada by 4.7% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,715 shares of the basic materials company's stock worth $319,000 after purchasing an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

FNV has been the subject of several research reports. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Jefferies Financial Group decreased their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a "hold" rating for the company in a report on Thursday, October 17th. Scotiabank decreased their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a report on Friday, November 8th. HC Wainwright reaffirmed a "buy" rating and issued a $155.00 target price on shares of Franco-Nevada in a research report on Tuesday, January 28th. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $146.71.

Franco-Nevada Price Performance

FNV stock traded up $1.62 during trading on Thursday, hitting $144.00. 404,025 shares of the stock traded hands, compared to its average volume of 645,325. Franco-Nevada Co. has a 1 year low of $103.64 and a 1 year high of $144.27. The firm's 50 day moving average is $126.81 and its two-hundred day moving average is $125.23. The stock has a market cap of $27.73 billion, a price-to-earnings ratio of -45.57, a price-to-earnings-growth ratio of 9.88 and a beta of 0.74.

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 represents a $1.52 annualized dividend and a dividend yield of 1.06%. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada's dividend payout ratio is -48.10%.

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.