Franco-Nevada Co. (NYSE:FNV) Holdings Reduced by Atlas Wealth Partners LLC

Atlas Wealth Partners LLC cut its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,153 shares of the basic materials company’s stock after selling 467 shares during the period. Franco-Nevada accounts for 3.7% of Atlas Wealth Partners LLC’s holdings, making the stock its 5th biggest holding. Atlas Wealth Partners LLC’s holdings in Franco-Nevada were worth $2,958,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Creative Planning raised its holdings in shares of Franco-Nevada by 3.4% during the 3rd quarter. Creative Planning now owns 12,456 shares of the basic materials company’s stock worth $1,548,000 after acquiring an additional 409 shares in the last quarter. McCollum Christoferson Group LLC raised its holdings in shares of Franco-Nevada by 2.1% during the 3rd quarter. McCollum Christoferson Group LLC now owns 34,656 shares of the basic materials company’s stock worth $4,306,000 after acquiring an additional 705 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Franco-Nevada by 797.2% during the 3rd quarter. Blue Trust Inc. now owns 1,947 shares of the basic materials company’s stock worth $231,000 after acquiring an additional 1,730 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Franco-Nevada by 2.6% during the 3rd quarter. Raymond James & Associates now owns 187,263 shares of the basic materials company’s stock worth $23,267,000 after acquiring an additional 4,768 shares in the last quarter. Finally, Stegent Equity Advisors Inc. bought a new position in shares of Franco-Nevada during the 3rd quarter valued at approximately $304,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $142.92 on Wednesday. The stock has a market capitalization of $27.52 billion, a P/E ratio of -45.23, a price-to-earnings-growth ratio of 9.88 and a beta of 0.74. Franco-Nevada Co. has a 1-year low of $103.64 and a 1-year high of $143.77. The business has a fifty day moving average price of $126.00 and a 200 day moving average price of $124.98.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 1.06%. Franco-Nevada’s dividend payout ratio (DPR) is -45.57%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FNV shares. Scotiabank cut their target price on 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. UBS Group began coverage on Franco-Nevada in a research report on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective on the stock. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Jefferies Financial Group lowered their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Finally, Royal Bank of Canada upped 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. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.71.

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.