Proficio Capital Partners LLC Has $56.76 Million Stake in Franco-Nevada Co. (NYSE:FNV)

Proficio Capital Partners LLC increased its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 11,659.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 482,707 shares of the basic materials company’s stock after buying an additional 478,602 shares during the period. Proficio Capital Partners LLC owned 0.25% of Franco-Nevada worth $56,762,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Covea Finance raised its stake in shares of Franco-Nevada by 2.7% during the fourth quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock worth $11,895,000 after buying an additional 2,700 shares during the last quarter. M&G PLC raised its stake in shares of Franco-Nevada by 3.2% during the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock worth $208,645,000 after buying an additional 51,996 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its stake in shares of Franco-Nevada by 1.9% during the third quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock worth $116,277,000 after buying an additional 17,232 shares during the last quarter. Telemark Asset Management LLC raised its stake in shares of Franco-Nevada by 66.7% during the third quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock worth $6,212,000 after buying an additional 20,000 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after buying an additional 424,810 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FNV shares. Scotiabank dropped their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and issued a $155.00 target price on shares of Franco-Nevada in a research note on Tuesday, January 28th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Royal Bank of Canada upped their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $146.71.

Franco-Nevada Stock Up 0.3 %

Shares of FNV stock opened at $141.26 on Friday. The firm has a fifty day moving average of $130.79 and a 200-day moving average of $126.37. Franco-Nevada Co. has a 12-month low of $103.64 and a 12-month high of $144.27. The company has a market capitalization of $27.20 billion, a price-to-earnings ratio of -44.70, a P/E/G ratio of 9.78 and a beta of 0.74.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. 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%. Franco-Nevada’s dividend payout ratio is currently -48.10%.

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.