Essex Investment Management Co. LLC Sells 164 Shares of Franco-Nevada Co. (NYSE:FNV)

Essex Investment Management Co. LLC reduced its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 4.5% in the 4th quarter, HoldingsChannel reports. The fund owned 3,461 shares of the basic materials company’s stock after selling 164 shares during the period. Essex Investment Management Co. LLC’s holdings in Franco-Nevada were worth $407,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of FNV. Confluence Investment Management LLC raised its position in Franco-Nevada by 9.4% during the 3rd quarter. Confluence Investment Management LLC now owns 5,325 shares of the basic materials company’s stock worth $662,000 after purchasing an additional 456 shares during the last quarter. Sustainable Insight Capital Management LLC bought a new position in shares of Franco-Nevada during the third quarter worth about $454,000. Privium Fund Management B.V. lifted its stake in shares of Franco-Nevada by 155.7% in the third quarter. Privium Fund Management B.V. now owns 6,061 shares of the basic materials company’s stock worth $753,000 after acquiring an additional 3,691 shares during the period. Meixler Investment Management Ltd. boosted its holdings in Franco-Nevada by 2.9% in the third quarter. Meixler Investment Management Ltd. now owns 22,086 shares of the basic materials company’s stock valued at $2,744,000 after acquiring an additional 626 shares during the last quarter. Finally, Waverton Investment Management Ltd raised its holdings in Franco-Nevada by 2.9% during the 3rd quarter. Waverton Investment Management Ltd now owns 5,405 shares of the basic materials company’s stock worth $671,000 after purchasing an additional 151 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

FNV has been the topic of a number of analyst reports. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Royal Bank of Canada boosted their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. StockNews.com upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Friday. UBS Group started coverage on Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $155.00 target price on shares of Franco-Nevada in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $146.71.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $143.36 on Monday. The business’s 50 day simple moving average is $133.80 and its two-hundred day simple moving average is $127.30. The firm has a market cap of $27.60 billion, a P/E ratio of -45.37, a PEG ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a 52-week low of $111.98 and a 52-week high of $146.99.

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 boost from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is currently -48.10%.

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.