Van ECK Associates Corp Buys 193,968 Shares of Franco-Nevada Co. (NYSE:FNV)

Van ECK Associates Corp grew its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,538,788 shares of the basic materials company's stock after acquiring an additional 193,968 shares during the quarter. Franco-Nevada accounts for 1.3% of Van ECK Associates Corp's holdings, making the stock its 15th biggest position. Van ECK Associates Corp owned approximately 4.44% of Franco-Nevada worth $1,004,046,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Creative Planning increased its position in Franco-Nevada by 3.4% during the 3rd quarter. Creative Planning now owns 12,456 shares of the basic materials company's stock worth $1,548,000 after buying an additional 409 shares during the period. McCollum Christoferson Group LLC boosted its stake in Franco-Nevada by 2.1% in the third quarter. McCollum Christoferson Group LLC now owns 34,656 shares of the basic materials company's stock valued at $4,306,000 after buying an additional 705 shares in the last quarter. Blue Trust Inc. boosted its stake in Franco-Nevada by 797.2% in the third quarter. Blue Trust Inc. now owns 1,947 shares of the basic materials company's stock valued at $231,000 after buying an additional 1,730 shares in the last quarter. Raymond James & Associates boosted its stake in Franco-Nevada by 2.6% in the third quarter. Raymond James & Associates now owns 187,263 shares of the basic materials company's stock valued at $23,267,000 after buying an additional 4,768 shares in the last quarter. Finally, Atlas Wealth Partners LLC acquired a new stake in shares of Franco-Nevada during the third quarter valued at about $3,183,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Ratings Changes

FNV has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Canaccord Genuity Group raised 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 note on Monday, November 18th. They issued a "buy" rating and a $160.00 target price on the stock. Scotiabank dropped their target price on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a report on Friday, November 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $155.00 price objective 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.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $146.71.

Franco-Nevada Stock Performance

NYSE:FNV traded down $5.61 during mid-day trading on Friday, hitting $138.37. 614,397 shares of the company's stock traded hands, compared to its average volume of 604,619. Franco-Nevada Co. has a 1 year low of $103.64 and a 1 year high of $144.27. The firm's 50 day simple moving average is $127.17 and its 200 day simple moving average is $125.31.

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 issued a $0.38 dividend. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 1.10%. Franco-Nevada's dividend payout ratio (DPR) is presently -45.57%.

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.