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

Essex Investment Management Co. LLC trimmed its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,461 shares of the basic materials company’s stock after selling 164 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Franco-Nevada were worth $407,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Franco-Nevada by 76.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock valued at $159,530,000 after acquiring an additional 556,894 shares in the last quarter. EdgePoint Investment Group Inc. grew its position in shares of 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 worth $411,003,000 after purchasing an additional 537,047 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Franco-Nevada by 11,659.0% during the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company’s stock worth $56,762,000 after purchasing an additional 478,602 shares during the period. Victory Capital Management Inc. raised its position 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 buying an additional 424,810 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Franco-Nevada by 60.1% in the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock valued at $119,069,000 after buying an additional 359,900 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. HC Wainwright restated a “buy” rating and set a $155.00 price objective on shares of Franco-Nevada in a research note on Tuesday, January 28th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. 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 target for the company. Royal Bank of Canada increased their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $146.71.

Franco-Nevada Trading Up 0.5 %

FNV opened at $143.36 on Monday. The company’s 50 day moving average is $133.80 and its 200-day moving average is $127.30. The company 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 1-year low of $111.98 and a 1-year high of $146.99.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is presently -48.10%.

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.