Atria Wealth Solutions Inc. Raises Stake in Franco-Nevada Co. (NYSE:FNV)

Atria Wealth Solutions Inc. raised its holdings in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 64.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,282 shares of the basic materials company's stock after buying an additional 5,219 shares during the period. Atria Wealth Solutions Inc.'s holdings in Franco-Nevada were worth $1,562,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FNV. CIBC Asset Management Inc grew its stake in shares of Franco-Nevada by 11.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,136,533 shares of the basic materials company's stock valued at $133,548,000 after acquiring an additional 116,144 shares in the last quarter. Meixler Investment Management Ltd. raised its stake in Franco-Nevada by 12.1% in the fourth quarter. Meixler Investment Management Ltd. now owns 24,760 shares of the basic materials company's stock valued at $2,912,000 after purchasing an additional 2,674 shares in the last quarter. Allworth Financial LP lifted its position in Franco-Nevada by 643.3% during the fourth quarter. Allworth Financial LP now owns 3,895 shares of the basic materials company's stock worth $506,000 after purchasing an additional 3,371 shares during the period. Principal Securities Inc. grew its stake in Franco-Nevada by 290.5% during the fourth quarter. Principal Securities Inc. now owns 863 shares of the basic materials company's stock worth $101,000 after buying an additional 642 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Franco-Nevada by 2.3% in the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company's stock valued at $1,004,046,000 after buying an additional 193,968 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.

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Franco-Nevada Trading Up 0.3 %

Shares of NYSE:FNV traded up $0.44 during mid-day trading on Thursday, hitting $141.26. 988,097 shares of the company traded hands, compared to its average volume of 635,429. The stock has a market cap of $27.20 billion, a P/E ratio of -44.70, a P/E/G ratio of 9.78 and a beta of 0.74. The stock has a 50-day moving average price of $130.27 and a two-hundred day moving average price of $126.27. 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 announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 1.08%. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's dividend payout ratio is currently -48.10%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FNV shares. Scotiabank cut their target price on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a research note on Friday, November 8th. UBS Group began coverage on Franco-Nevada in a research note on Monday, November 18th. They issued a "buy" rating and a $160.00 price objective on the stock. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. HC Wainwright reiterated a "buy" rating and issued a $155.00 price objective on shares of Franco-Nevada in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada raised their target price on Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Franco-Nevada currently has an average rating of "Moderate Buy" and a consensus target price 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.