Generali Investments CEE investicni spolecnost a.s. Invests $642,000 in Franco-Nevada Co. (NYSE:FNV)

Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 5,460 shares of the basic materials company’s stock, valued at approximately $642,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covea Finance increased its position in Franco-Nevada by 2.7% during the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock worth $11,895,000 after purchasing an additional 2,700 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its position in Franco-Nevada by 1.9% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock worth $116,277,000 after purchasing an additional 17,232 shares in the last quarter. Telemark Asset Management LLC increased its position in Franco-Nevada by 66.7% during the 3rd quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock worth $6,212,000 after purchasing an additional 20,000 shares in the last quarter. Victory Capital Management Inc. increased its position in Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after purchasing an additional 424,810 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Franco-Nevada by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 407,137 shares of the basic materials company’s stock worth $50,623,000 after purchasing an additional 19,589 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $143.36 on Friday. Franco-Nevada Co. has a 1 year low of $111.98 and a 1 year high of $146.70. The stock has a market capitalization of $27.60 billion, a P/E ratio of -45.37, a PEG ratio of 9.78 and a beta of 0.73. The stock has a 50-day simple moving average of $133.80 and a 200-day simple moving average of $127.28.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is presently -48.10%.

Wall Street Analysts Forecast Growth

FNV has been the subject of a number of recent research reports. UBS Group initiated coverage on Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective for the company. Royal Bank of Canada lifted their price target on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. StockNews.com upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Friday. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, HC Wainwright restated a “buy” rating and issued a $155.00 price target on shares of Franco-Nevada in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $146.71.

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.