Allworth Financial LP Boosts Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Allworth Financial LP boosted its stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 643.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,895 shares of the basic materials company's stock after purchasing an additional 3,371 shares during the quarter. Allworth Financial LP's holdings in Franco-Nevada were worth $506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Principal Securities Inc. boosted 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 acquiring an additional 642 shares during the period. Van ECK Associates Corp lifted its stake 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 worth $1,004,046,000 after purchasing an additional 193,968 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Franco-Nevada by 9,594.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 96,948 shares of the basic materials company's stock valued at $11,400,000 after purchasing an additional 95,948 shares during the period. Schwartz Investment Counsel Inc. grew its position in shares of Franco-Nevada by 12.2% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 119,200 shares of the basic materials company's stock valued at $14,017,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Beacon Financial Group increased its holdings in shares of Franco-Nevada by 4.0% in the fourth quarter. Beacon Financial Group now owns 5,150 shares of the basic materials company's stock worth $606,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock traded down $3.22 during trading on Friday, hitting $138.51. The company's stock had a trading volume of 545,147 shares, compared to its average volume of 647,310. Franco-Nevada Co. has a 52 week low of $103.64 and a 52 week high of $144.27. The company has a market capitalization of $26.67 billion, a PE ratio of -43.83, a P/E/G ratio of 9.66 and a beta of 0.74. The company has a fifty day simple moving average of $128.57 and a two-hundred day simple moving average of $125.68.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.38 per share. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.10%. Franco-Nevada's dividend payout ratio (DPR) is currently -45.57%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FNV shares. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. UBS Group began coverage on Franco-Nevada in a research report on Monday, November 18th. They set a "buy" rating and a $160.00 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $155.00 target price on shares of Franco-Nevada in a research report on Tuesday, January 28th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Finally, Scotiabank lowered 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. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.