Tobam Purchases 2,591 Shares of Franco-Nevada Co. (NYSE:FNV)

Tobam grew its holdings in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 38.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,391 shares of the basic materials company's stock after purchasing an additional 2,591 shares during the quarter. Tobam's holdings in Franco-Nevada were worth $1,104,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mutual Advisors LLC increased its stake in shares of Franco-Nevada by 4.0% in the 4th quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company's stock valued at $309,000 after acquiring an additional 96 shares during the last quarter. Sustainable Insight Capital Management LLC raised its holdings in Franco-Nevada by 2.7% in the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company's stock worth $441,000 after purchasing an additional 100 shares during the period. Huntington National Bank boosted its position in shares of Franco-Nevada by 7.4% during the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company's stock worth $185,000 after purchasing an additional 102 shares in the last quarter. Blossom Wealth Management increased its position in shares of Franco-Nevada by 3.9% in the 4th quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company's stock valued at $335,000 after buying an additional 108 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its holdings in Franco-Nevada by 4.7% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,715 shares of the basic materials company's stock worth $319,000 after acquiring an additional 122 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on FNV shares. Jefferies Financial Group dropped their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a "hold" rating on the stock in a report on Thursday, October 17th. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. UBS Group assumed coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They issued a "buy" rating and a $160.00 target price for the company. Royal Bank of Canada raised their price objective on Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research report on Tuesday. Finally, HC Wainwright reissued a "buy" rating and set a $155.00 target price on shares of Franco-Nevada in a report on Tuesday, January 28th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.71.

Franco-Nevada Price Performance

Franco-Nevada stock traded down $0.11 during midday trading on Tuesday, hitting $143.10. The company's stock had a trading volume of 265,841 shares, compared to its average volume of 648,837. The company has a 50-day moving average price of $125.59 and a two-hundred day moving average price of $124.85. Franco-Nevada Co. has a 1-year low of $103.64 and a 1-year high of $143.77. The company has a market cap of $27.55 billion, a price-to-earnings ratio of -45.29, a PEG ratio of 9.88 and a beta of 0.74.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 is a boost from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 1.06%. Franco-Nevada's payout ratio is currently -45.57%.

About Franco-Nevada

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.