Franco-Nevada Co. (NYSE:FNV) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd reduced its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 37.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 388 shares of the basic materials company’s stock after selling 229 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Franco-Nevada were worth $45,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FNV. International Assets Investment Management LLC acquired a new position in shares of Franco-Nevada during the 3rd quarter valued at $1,256,000. Assenagon Asset Management S.A. increased its position in shares of Franco-Nevada by 5.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 7,325 shares of the basic materials company’s stock valued at $911,000 after purchasing an additional 369 shares during the period. First Trust Direct Indexing L.P. acquired a new position in shares of Franco-Nevada during the 3rd quarter valued at $201,000. US Bancorp DE increased its position in shares of Franco-Nevada by 1.2% during the 3rd quarter. US Bancorp DE now owns 21,924 shares of the basic materials company’s stock valued at $2,724,000 after purchasing an additional 264 shares during the period. Finally, M&G PLC increased its position 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 valued at $208,645,000 after purchasing an additional 51,996 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Up 1.3 %

Shares of FNV opened at $143.06 on Monday. Franco-Nevada Co. has a 12-month low of $107.05 and a 12-month high of $144.27. The firm has a market capitalization of $27.55 billion, a price-to-earnings ratio of -45.27, a P/E/G ratio of 9.78 and a beta of 0.74. The stock’s 50-day moving average price is $131.33 and its 200 day moving average price is $126.58.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a 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 payout ratio is currently -48.10%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and issued a $155.00 target price on shares of Franco-Nevada in a research report on Tuesday, January 28th. Scotiabank decreased their target price on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, UBS Group started coverage on Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.