Veritas Asset Management LLP Has $8.50 Million Stock Position in Franco-Nevada Co. (NYSE:FNV)

Veritas Asset Management LLP reduced its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 7.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 72,266 shares of the basic materials company's stock after selling 6,003 shares during the period. Franco-Nevada accounts for approximately 0.1% of Veritas Asset Management LLP's investment portfolio, making the stock its 26th largest holding. Veritas Asset Management LLP's holdings in Franco-Nevada were worth $8,498,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FNV. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Franco-Nevada by 76.5% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company's stock valued at $159,530,000 after acquiring an additional 556,894 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of Franco-Nevada by 19.4% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company's stock worth $411,003,000 after purchasing an additional 537,047 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company's stock worth $433,538,000 after purchasing an additional 424,810 shares during the period. Two Sigma Advisers LP increased its holdings in Franco-Nevada by 60.1% in the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company's stock valued at $119,069,000 after purchasing an additional 359,900 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Franco-Nevada by 2.3% in the fourth 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. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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Franco-Nevada Price Performance

NYSE FNV traded up $1.87 during trading on Friday, reaching $143.06. 1,193,406 shares of the company's stock were exchanged, compared to its average volume of 624,348. The business has a 50 day moving average price of $130.79 and a 200-day moving average price of $126.37. The stock has a market capitalization of $27.55 billion, a P/E ratio of -45.27, a PEG ratio of 9.78 and a beta of 0.74. Franco-Nevada Co. has a fifty-two week low of $104.67 and a fifty-two week high of $144.27.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's dividend payout ratio is -48.10%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FNV. Scotiabank reduced 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. 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. 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 note on Tuesday, February 11th. UBS Group began coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They set a "buy" rating and a $160.00 price objective for the company. Finally, Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently 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.