CIBC Asset Management Inc Increases Stock Position in Franco-Nevada Co. (NYSE:FNV)

CIBC Asset Management Inc grew its holdings in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,136,533 shares of the basic materials company's stock after purchasing an additional 116,144 shares during the quarter. CIBC Asset Management Inc owned about 0.59% of Franco-Nevada worth $133,548,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Covea Finance lifted its stake in Franco-Nevada by 2.7% in the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company's stock worth $11,895,000 after purchasing an additional 2,700 shares in the last quarter. M&G PLC raised its position in shares of Franco-Nevada by 3.2% during the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company's stock valued at $208,645,000 after buying an additional 51,996 shares during the period. Telemark Asset Management LLC raised its position in shares of Franco-Nevada by 66.7% during the 3rd quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company's stock valued at $6,212,000 after buying an additional 20,000 shares during the period. Horizon Kinetics Asset Management LLC raised its position in shares of Franco-Nevada by 1.9% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company's stock valued at $116,277,000 after buying an additional 17,232 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company's stock valued at $433,538,000 after buying an additional 424,810 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Royal Bank of Canada lifted their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. UBS Group assumed coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They set a "buy" rating and a $160.00 price target on the stock. HC Wainwright reiterated a "buy" rating and issued a $155.00 target price on shares of Franco-Nevada in a report on Tuesday, January 28th. Finally, Scotiabank dropped their target price 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. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada currently has a consensus rating of "Moderate Buy" and an average target price of $146.71.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock traded up $1.59 during trading on Thursday, hitting $141.65. 654,645 shares of the stock were exchanged, compared to its average volume of 650,407. The stock has a market cap of $27.27 billion, a price-to-earnings ratio of -44.83, a price-to-earnings-growth ratio of 9.71 and a beta of 0.74. The firm's 50-day moving average price is $128.57 and its 200 day moving average price is $125.68. Franco-Nevada Co. has a 12-month low of $103.64 and a 12-month high of $144.27.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada's payout ratio is -45.57%.

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.