Alberta Investment Management Corp Decreases Holdings in Franco-Nevada Co. (NYSE:FNV)

Alberta Investment Management Corp reduced its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 484,351 shares of the basic materials company's stock after selling 10,626 shares during the quarter. Alberta Investment Management Corp owned 0.25% of Franco-Nevada worth $56,888,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in shares of Franco-Nevada in the 4th quarter worth approximately $47,000. Point72 DIFC Ltd purchased a new stake in Franco-Nevada during the third quarter worth $52,000. Erste Asset Management GmbH acquired a new stake in Franco-Nevada in the third quarter valued at $55,000. Principal Securities Inc. increased its position in shares of Franco-Nevada by 290.5% in the fourth quarter. Principal Securities Inc. now owns 863 shares of the basic materials company's stock valued at $101,000 after buying an additional 642 shares in the last quarter. Finally, Birch Capital Management LLC raised its stake in shares of Franco-Nevada by 37.9% during the 4th 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 during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FNV has been the topic of a number of research reports. Scotiabank lowered their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. UBS Group initiated coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They issued a "buy" rating and a $160.00 price target on the stock. Royal Bank of Canada lifted their price objective 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. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Finally, HC Wainwright restated a "buy" rating and issued a $155.00 target price on shares of Franco-Nevada in a report on Tuesday, January 28th. 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, Franco-Nevada presently has an average rating of "Moderate Buy" and an average price target of $146.71.

Franco-Nevada Price Performance

NYSE:FNV traded down $3.22 during trading hours on Friday, reaching $138.51. 537,040 shares of the company were exchanged, compared to its average volume of 642,831. Franco-Nevada Co. has a 52-week low of $103.64 and a 52-week high of $144.27. The stock has a 50 day simple moving average of $128.57 and a 200 day simple moving average of $125.68. The firm has a market cap of $26.67 billion, a price-to-earnings ratio of -43.83, a PEG ratio of 9.66 and a beta of 0.74.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. 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.