Allspring Global Investments Holdings LLC Boosts Stock Position in Franco-Nevada Co. (NYSE:FNV)

Allspring Global Investments Holdings LLC boosted its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 9,594.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,948 shares of the basic materials company’s stock after acquiring an additional 95,948 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.05% of Franco-Nevada worth $11,400,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Franco-Nevada by 76.5% in the 3rd 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 purchasing an additional 556,894 shares in the last quarter. EdgePoint Investment Group Inc. raised its holdings in Franco-Nevada by 19.4% in the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after acquiring an additional 537,047 shares in the last quarter. Victory Capital Management Inc. raised its holdings in 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 acquiring an additional 424,810 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Franco-Nevada by 60.1% in the 3rd quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock valued at $119,069,000 after purchasing an additional 359,900 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Franco-Nevada in the 3rd quarter valued at $19,875,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FNV has been the topic of a number of analyst reports. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Scotiabank cut their target price on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. UBS Group assumed coverage on shares of Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $155.00 target price on shares of Franco-Nevada in a research report on Tuesday, January 28th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus price target of $146.71.

Franco-Nevada Trading Down 3.9 %

Shares of FNV opened at $138.37 on Tuesday. The firm has a market capitalization of $26.64 billion, a P/E ratio of -43.79, a PEG ratio of 9.88 and a beta of 0.74. The firm’s 50-day moving average is $127.49 and its two-hundred day moving average is $125.36. Franco-Nevada Co. has a twelve month low of $103.64 and a twelve month high of $144.27.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 yield of 1.10%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. Franco-Nevada’s payout ratio is presently -45.57%.

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.