Principal Securities Inc. Grows Stock Position in Franco-Nevada Co. (NYSE:FNV)

Principal Securities Inc. lifted its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 290.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 863 shares of the basic materials company’s stock after buying an additional 642 shares during the quarter. Principal Securities Inc.’s holdings in Franco-Nevada were worth $101,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FNV. Laurel Wealth Advisors LLC purchased a new position in Franco-Nevada in the fourth quarter valued at $47,000. Point72 DIFC Ltd purchased a new stake in shares of Franco-Nevada in the third quarter valued at approximately $52,000. Erste Asset Management GmbH purchased a new stake in shares of Franco-Nevada in the third quarter valued at approximately $55,000. Birch Capital Management LLC raised its position in Franco-Nevada by 37.9% during the fourth quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 298 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Franco-Nevada in the third quarter valued at about $147,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FNV shares. Royal Bank of Canada boosted their target price on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Scotiabank dropped 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. HC Wainwright reaffirmed a “buy” rating and issued a $155.00 price target on shares of Franco-Nevada in a research report on Tuesday, January 28th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Five 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, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus target price of $146.71.

Franco-Nevada Stock Performance

Shares of FNV opened at $140.71 on Thursday. Franco-Nevada Co. has a fifty-two week low of $103.64 and a fifty-two week high of $144.27. The stock has a fifty day moving average of $130.27 and a two-hundred day moving average of $126.27. The company has a market capitalization of $27.09 billion, a PE ratio of -44.53, a price-to-earnings-growth ratio of 9.78 and a beta of 0.74.

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 $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 1.08%. This is an increase 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.