Victory Capital Management Inc. Cuts Position in Franco-Nevada Co. (NYSE:FNV)

Victory Capital Management Inc. trimmed its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,423,240 shares of the basic materials company's stock after selling 66,000 shares during the period. Victory Capital Management Inc. owned about 1.78% of Franco-Nevada worth $402,539,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new stake in shares of Franco-Nevada during the fourth quarter worth approximately $47,000. Point72 DIFC Ltd acquired a new position in Franco-Nevada in the third quarter valued at approximately $52,000. Erste Asset Management GmbH acquired a new position in Franco-Nevada in the third quarter valued at approximately $55,000. SBI Securities Co. Ltd. acquired a new position in Franco-Nevada in the fourth quarter valued at approximately $73,000. Finally, Jones Financial Companies Lllp boosted its holdings 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 hedge funds and other institutional investors.

Franco-Nevada Price Performance

Shares of FNV stock traded up $0.69 during trading hours on Friday, hitting $143.36. The stock had a trading volume of 926,716 shares, compared to its average volume of 612,643. The firm has a market capitalization of $27.60 billion, a PE ratio of -45.37, a PEG ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a twelve month low of $111.98 and a twelve month high of $146.70. The stock's 50 day moving average is $133.31 and its 200 day moving average is $127.12.

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Franco-Nevada Increases Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.06%. Franco-Nevada's dividend payout ratio (DPR) is currently -48.10%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. UBS Group assumed 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. StockNews.com raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Friday. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $155.00 price target on shares of Franco-Nevada in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $146.71.

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.