Sprott Inc. Acquires 42,798 Shares of Franco-Nevada Co. (NYSE:FNV)

Sprott Inc. increased its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 22.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 234,136 shares of the basic materials company’s stock after buying an additional 42,798 shares during the quarter. Franco-Nevada accounts for about 1.6% of Sprott Inc.’s holdings, making the stock its 17th biggest holding. Sprott Inc.’s holdings in Franco-Nevada were worth $27,530,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FNV. Essex Financial Services Inc. lifted its holdings in shares of Franco-Nevada by 2.2% in the fourth quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock worth $458,000 after acquiring an additional 84 shares during the last quarter. Mutual Advisors LLC increased its position in Franco-Nevada by 4.0% during the 4th quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after purchasing an additional 96 shares in the last quarter. Sustainable Insight Capital Management LLC lifted its stake in Franco-Nevada by 2.7% in the 4th quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock valued at $441,000 after purchasing an additional 100 shares during the last quarter. Huntington National Bank boosted its position in Franco-Nevada by 7.4% in the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after buying an additional 102 shares in the last quarter. Finally, Blossom Wealth Management grew its stake in shares of Franco-Nevada by 3.9% during the fourth quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock worth $335,000 after buying an additional 108 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $138.97 on Wednesday. The firm has a 50 day moving average price of $129.76 and a two-hundred day moving average price of $126.16. Franco-Nevada Co. has a 52-week low of $103.64 and a 52-week high of $144.27. The firm has a market cap of $26.76 billion, a price-to-earnings ratio of -43.98, a PEG ratio of 9.78 and a beta of 0.74.

Franco-Nevada Increases Dividend

The company also recently announced 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 of this dividend is Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 1.09%. Franco-Nevada’s payout ratio is presently -48.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. HC Wainwright reiterated a “buy” rating and issued a $155.00 target price on shares of Franco-Nevada in a research report on Tuesday, January 28th. UBS Group began coverage on Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price target on the stock. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, Scotiabank reduced their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $146.71.

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.