Oxbow Advisors LLC Lowers Position in Franco-Nevada Co. (NYSE:FNV)

Oxbow Advisors LLC lowered its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,274 shares of the basic materials company’s stock after selling 588 shares during the period. Oxbow Advisors LLC’s holdings in Franco-Nevada were worth $1,914,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new stake in shares of Franco-Nevada in the 4th quarter valued at about $47,000. Point72 DIFC Ltd purchased a new position in shares of Franco-Nevada during the 3rd quarter valued at about $52,000. Erste Asset Management GmbH purchased a new position in shares of Franco-Nevada during the 3rd quarter valued at about $55,000. Principal Securities Inc. raised its holdings in shares of Franco-Nevada by 290.5% during the 4th quarter. Principal Securities Inc. now owns 863 shares of the basic materials company’s stock valued at $101,000 after buying an additional 642 shares in the last quarter. Finally, Birch Capital Management LLC raised its holdings in shares of Franco-Nevada by 37.9% during the 4th quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock valued at $128,000 after buying an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on FNV. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Royal Bank of Canada raised their price objective on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. HC Wainwright reissued a “buy” rating and set a $155.00 price objective on shares of Franco-Nevada in a report on Tuesday, January 28th. UBS Group initiated coverage on Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective on the stock. Finally, Scotiabank decreased their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and an average price target of $146.71.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $138.51 on Friday. The stock has a market capitalization of $26.67 billion, a P/E ratio of -43.83, a price-to-earnings-growth ratio of 9.66 and a beta of 0.74. Franco-Nevada Co. has a one year low of $103.64 and a one year high of $144.27. The business’s 50 day simple moving average is $128.96 and its two-hundred day simple moving average is $125.80.

Franco-Nevada Increases Dividend

The firm 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 $0.38 dividend. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is currently -45.57%.

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.