Schwartz Investment Counsel Inc. Has $14.02 Million Stake in Franco-Nevada Co. (NYSE:FNV)

Schwartz Investment Counsel Inc. grew its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 12.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 119,200 shares of the basic materials company’s stock after buying an additional 13,000 shares during the period. Schwartz Investment Counsel Inc.’s holdings in Franco-Nevada were worth $14,017,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Covea Finance increased its stake in Franco-Nevada by 2.7% during the fourth quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock valued at $11,895,000 after acquiring an additional 2,700 shares during the period. M&G PLC grew its holdings in shares of 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 worth $208,645,000 after purchasing an additional 51,996 shares in the last quarter. Telemark Asset Management LLC increased its position in shares of Franco-Nevada by 66.7% during the third quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock valued at $6,212,000 after purchasing an additional 20,000 shares during the period. Horizon Kinetics Asset Management LLC raised its stake in shares of Franco-Nevada by 1.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock valued at $116,277,000 after purchasing an additional 17,232 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Franco-Nevada by 13.9% in the third 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 in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of FNV opened at $142.92 on Wednesday. The stock has a fifty day moving average price of $126.00 and a two-hundred day moving average price of $124.98. The company has a market cap of $27.52 billion, a price-to-earnings ratio of -45.23, a PEG ratio of 9.88 and a beta of 0.74. Franco-Nevada Co. has a 52-week low of $103.64 and a 52-week high of $143.77.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.06%. 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. Franco-Nevada’s dividend payout ratio is presently -45.57%.

Analyst Ratings Changes

Several brokerages have issued reports on FNV. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. UBS Group initiated coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 target price on the stock. Jefferies Financial Group cut their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. HC Wainwright reaffirmed a “buy” rating and set a $155.00 price objective on shares of Franco-Nevada in a report on Tuesday, January 28th. Finally, 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. Five 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 stock currently has an average rating of “Moderate Buy” and a consensus target price 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.