Franco-Nevada Co. (NYSE:FNV) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 11.4% during the fourth quarter, HoldingsChannel reports. The firm owned 1,136,533 shares of the basic materials company’s stock after buying an additional 116,144 shares during the period. CIBC Asset Management Inc’s holdings in Franco-Nevada were worth $133,548,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Essex Financial Services Inc. lifted its position in Franco-Nevada by 2.2% during the 4th quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock worth $458,000 after acquiring an additional 84 shares in the last quarter. Mutual Advisors LLC boosted its stake in shares of Franco-Nevada by 4.0% in the fourth quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock valued at $309,000 after purchasing an additional 96 shares during the period. Sustainable Insight Capital Management LLC grew its holdings in Franco-Nevada by 2.7% during the 4th quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock valued at $441,000 after purchasing an additional 100 shares in the last quarter. Huntington National Bank increased its stake in Franco-Nevada by 7.4% during the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock worth $185,000 after buying an additional 102 shares during the period. Finally, Blossom Wealth Management lifted its holdings in Franco-Nevada by 3.9% in the 4th quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock worth $335,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

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

Franco-Nevada Stock Performance

Shares of FNV stock opened at $138.37 on Monday. The business has a 50 day moving average of $127.17 and a two-hundred day moving average of $125.28. Franco-Nevada Co. has a 52 week low of $103.64 and a 52 week high of $144.27.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 1.10%. Franco-Nevada’s dividend payout ratio (DPR) is currently -45.57%.

Franco-Nevada 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.