2,500 Shares in Franco-Nevada Co. (NYSE:FNV) Acquired by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC bought a new stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the fourth quarter, HoldingsChannel.com reports. The firm bought 2,500 shares of the basic materials company’s stock, valued at approximately $294,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FNV. Laurel Wealth Advisors LLC bought a new stake in shares of Franco-Nevada in the fourth quarter worth $47,000. Point72 DIFC Ltd bought a new stake in shares of Franco-Nevada during the 3rd quarter valued at about $52,000. Erste Asset Management GmbH bought a new stake in shares of Franco-Nevada during the 3rd quarter valued at about $55,000. Birch Capital Management LLC increased its position in shares of Franco-Nevada by 37.9% during the 4th quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 298 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Franco-Nevada in the 3rd quarter worth approximately $147,000. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Price Performance

NYSE:FNV opened at $143.23 on Tuesday. The business’s 50-day simple moving average is $125.59 and its two-hundred day simple moving average is $124.85. Franco-Nevada Co. has a 52 week low of $103.64 and a 52 week high of $143.77.

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. 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 dividend on an annualized basis and a yield of 1.06%. Franco-Nevada’s payout ratio is currently -45.57%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FNV shares. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. HC Wainwright reissued a “buy” rating and set a $155.00 price objective on shares of Franco-Nevada in a research report on Tuesday, January 28th. Jefferies Financial Group decreased their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. 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. Finally, UBS Group initiated coverage on Franco-Nevada in a research report on Monday, November 18th. They issued a “buy” rating and a $160.00 price target for the company. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $145.33.

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.