Vista Investment Partners II LLC Makes New Investment in Franco-Nevada Co. (NYSE:FNV)

Vista Investment Partners II LLC purchased a new position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,144 shares of the basic materials company’s stock, valued at approximately $840,000.

Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in Franco-Nevada by 2.3% during the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock valued at $1,004,046,000 after buying an additional 193,968 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after acquiring an additional 424,810 shares in the last quarter. EdgePoint Investment Group Inc. lifted its stake in shares of Franco-Nevada by 19.4% in 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 acquiring an additional 537,047 shares during the last quarter. National Bank of Canada FI increased its position in shares of Franco-Nevada by 2.2% in the third quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company’s stock valued at $171,513,000 after acquiring an additional 29,512 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in 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 worth $159,530,000 after acquiring an additional 556,894 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Trading Up 0.5 %

Shares of NYSE FNV opened at $143.36 on Monday. Franco-Nevada Co. has a 12-month low of $111.98 and a 12-month high of $146.99. The firm’s 50-day moving average price is $133.80 and its 200-day moving average price is $127.30. The stock has a market capitalization of $27.60 billion, a price-to-earnings ratio of -45.37, a P/E/G ratio of 9.78 and a beta of 0.73.

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 dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is currently -48.10%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FNV. Royal Bank of Canada upped their price target on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. UBS Group began coverage on Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price on the stock. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Friday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $155.00 target price 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.