Horizon Kinetics Asset Management LLC Purchases 52,199 Shares of Franco-Nevada Co. (NYSE:FNV)

Horizon Kinetics Asset Management LLC grew its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 988,033 shares of the basic materials company’s stock after purchasing an additional 52,199 shares during the quarter. Franco-Nevada comprises approximately 1.4% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 8th largest holding. Horizon Kinetics Asset Management LLC owned 0.51% of Franco-Nevada worth $116,183,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in FNV. Huntington National Bank lifted its stake in shares of Franco-Nevada by 7.4% in the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after purchasing an additional 102 shares during the period. Natixis Advisors LLC lifted its stake in shares of Franco-Nevada by 6.5% in the 3rd quarter. Natixis Advisors LLC now owns 20,404 shares of the basic materials company’s stock valued at $2,535,000 after purchasing an additional 1,237 shares during the period. Swiss National Bank lifted its stake in shares of Franco-Nevada by 0.8% in the 3rd quarter. Swiss National Bank now owns 581,560 shares of the basic materials company’s stock valued at $72,347,000 after purchasing an additional 4,900 shares during the period. Drive Wealth Management LLC lifted its stake in shares of Franco-Nevada by 11.9% in the 3rd quarter. Drive Wealth Management LLC now owns 3,355 shares of the basic materials company’s stock valued at $417,000 after purchasing an additional 356 shares during the period. Finally, Beddow Capital Management Inc. lifted its stake in shares of Franco-Nevada by 1.4% in the 3rd quarter. Beddow Capital Management Inc. now owns 57,882 shares of the basic materials company’s stock valued at $7,192,000 after purchasing an additional 790 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

FNV has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Scotiabank upped their price objective on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 11th. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Finally, HC Wainwright upped their price objective on shares of Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $153.63.

Franco-Nevada Trading Up 2.2 %

FNV stock opened at $153.45 on Monday. The stock has a 50-day moving average price of $136.67 and a two-hundred day moving average price of $128.16. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $153.84. The stock has a market cap of $29.55 billion, a PE ratio of -48.56, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $321.00 million during the quarter, compared to the consensus estimate of $304.33 million. During the same period in the prior year, the business posted $0.90 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.38 dividend. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 0.99%. The ex-dividend date is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is 53.15%.

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.