Carnegie Lake Advisors LLC Purchases Shares of 2,500 Franco-Nevada Co. (NYSE:FNV)

Carnegie Lake Advisors LLC acquired a new position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,500 shares of the basic materials company’s stock, valued at approximately $294,000.

A number of other large investors have also recently made changes to their positions in FNV. Essex Financial Services Inc. lifted its stake in Franco-Nevada by 2.2% in the fourth quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock worth $458,000 after acquiring an additional 84 shares during the period. Mutual Advisors LLC raised its holdings in Franco-Nevada by 4.0% in the 4th quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after purchasing an additional 96 shares in the last quarter. Sustainable Insight Capital Management LLC lifted its position in shares of Franco-Nevada by 2.7% in the 4th quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock worth $441,000 after purchasing an additional 100 shares during the period. Huntington National Bank boosted its stake in shares of Franco-Nevada by 7.4% during the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after purchasing an additional 102 shares in the last quarter. Finally, Blossom Wealth Management increased its position in shares of Franco-Nevada by 3.9% during the fourth quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock valued at $335,000 after buying an additional 108 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Scotiabank lowered their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Jefferies Financial Group lowered their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. UBS Group started coverage on Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective for the company. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Four equities research 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.33.

Franco-Nevada Trading Up 1.4 %

Shares of Franco-Nevada stock opened at $143.23 on Tuesday. The firm’s 50-day moving average is $125.59 and its 200 day moving average is $124.85. Franco-Nevada Co. has a 1 year low of $103.64 and a 1 year high of $143.77.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio is currently -45.57%.

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.