Franco-Nevada Co. (NYSE:FNV) Stock Holdings Reduced by Veritas Asset Management LLP

Veritas Asset Management LLP lowered its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,266 shares of the basic materials company’s stock after selling 6,003 shares during the quarter. Franco-Nevada makes up approximately 0.1% of Veritas Asset Management LLP’s holdings, making the stock its 26th biggest position. Veritas Asset Management LLP’s holdings in Franco-Nevada were worth $8,498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of Franco-Nevada by 2.3% during 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 acquiring an additional 193,968 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after purchasing an additional 424,810 shares during the period. EdgePoint Investment Group Inc. boosted its stake in Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after purchasing an additional 537,047 shares during the period. M&G PLC boosted its stake in Franco-Nevada by 3.2% during the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after purchasing an additional 51,996 shares during the period. Finally, National Bank of Canada FI boosted its stake in Franco-Nevada by 2.2% during the 3rd quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company’s stock valued at $171,513,000 after purchasing an additional 29,512 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Up 0.7 %

Shares of Franco-Nevada stock opened at $139.72 on Tuesday. The stock’s fifty day simple moving average is $129.37 and its 200 day simple moving average is $126.04. Franco-Nevada Co. has a 12 month low of $103.64 and a 12 month high of $144.27. The company has a market capitalization of $26.90 billion, a PE ratio of -44.21, a PEG ratio of 9.78 and a beta of 0.74.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.38 dividend. 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 1.09%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is currently -48.10%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FNV shares. Royal Bank of Canada increased their target price on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Scotiabank cut their price target 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. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, UBS Group initiated coverage on Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Franco-Nevada 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.