Franco-Nevada Co. (NYSE:FNV) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,423,240 shares of the basic materials company’s stock after selling 66,000 shares during the quarter. Victory Capital Management Inc. owned about 1.78% of Franco-Nevada worth $402,539,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in Franco-Nevada by 2.3% during the fourth quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock worth $1,004,046,000 after purchasing an additional 193,968 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after purchasing an additional 537,047 shares in the last quarter. 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. National Bank of Canada FI raised its stake in shares of Franco-Nevada by 2.2% in the 3rd quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company’s stock worth $171,513,000 after buying an additional 29,512 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Franco-Nevada by 76.5% in the third 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 buying an additional 556,894 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank of Canada lifted 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. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. HC Wainwright reissued a “buy” rating and set a $155.00 target price on shares of Franco-Nevada in a research note on Tuesday, January 28th. Scotiabank decreased their price target on shares of 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. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.71.

Franco-Nevada Stock Performance

NYSE FNV opened at $142.85 on Wednesday. The firm’s 50 day moving average price is $131.80 and its two-hundred day moving average price is $126.73. The stock has a market cap of $27.51 billion, a price-to-earnings ratio of -45.21, a PEG ratio of 9.78 and a beta of 0.74. Franco-Nevada Co. has a twelve month low of $109.44 and a twelve month high of $145.47.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase 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 1.06%. Franco-Nevada’s dividend payout ratio is -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.