Van ECK Associates Corp Has $972.71 Million Stake in Franco-Nevada Co. (NYSE:FNV)

Van ECK Associates Corp boosted its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 9.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,778,127 shares of the basic materials company’s stock after acquiring an additional 789,070 shares during the quarter. Franco-Nevada accounts for approximately 1.8% of Van ECK Associates Corp’s investment portfolio, making the stock its 7th biggest holding. Van ECK Associates Corp’s holdings in Franco-Nevada were worth $972,707,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FNV. Quadrature Capital Ltd lifted its holdings in shares of Franco-Nevada by 119.3% in the third quarter. Quadrature Capital Ltd now owns 581,900 shares of the basic materials company’s stock worth $78,184,000 after buying an additional 316,600 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its stake in Franco-Nevada by 270.4% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 405,712 shares of the basic materials company’s stock worth $54,414,000 after purchasing an additional 296,169 shares in the last quarter. FMR LLC boosted its holdings in Franco-Nevada by 1.3% in the 3rd quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock valued at $2,211,558,000 after purchasing an additional 208,392 shares during the period. Victory Capital Management Inc. grew its position in shares of Franco-Nevada by 8.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,681,215 shares of the basic materials company’s stock valued at $357,915,000 after purchasing an additional 206,125 shares in the last quarter. Finally, Gabelli Funds LLC increased its holdings in shares of Franco-Nevada by 75.5% in the third quarter. Gabelli Funds LLC now owns 472,460 shares of the basic materials company’s stock worth $63,189,000 after purchasing an additional 203,300 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Up 0.4 %

Shares of FNV stock traded up $0.49 during trading hours on Monday, hitting $123.42. 662,343 shares of the company’s stock were exchanged, compared to its average volume of 733,205. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $161.25. The company has a market capitalization of $23.73 billion, a PE ratio of -50.77, a PEG ratio of 6.27 and a beta of 0.71. The business’s 50 day simple moving average is $115.31 and its 200-day simple moving average is $115.51.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The business had revenue of $303.30 million during the quarter. Equities analysts anticipate that Franco-Nevada Co. will post 2.97 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.36 per share. The ex-dividend date was Wednesday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 1.17%. Franco-Nevada’s dividend payout ratio is currently -55.97%.

Analyst Ratings Changes

FNV has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Bank of America decreased their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. Scotiabank raised their target price on shares of Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. Finally, Raymond James boosted their price target on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $148.60.

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.