Elevate Capital Advisors LLC Acquires New Holdings in Franco-Nevada Co. (NYSE:FNV)

Elevate Capital Advisors LLC bought a new position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 20,278 shares of the basic materials company’s stock, valued at approximately $2,384,000. Franco-Nevada comprises approximately 2.1% of Elevate Capital Advisors LLC’s investment portfolio, making the stock its 13th biggest position.

A number of other large investors have also added to or reduced their stakes in FNV. Laurel Wealth Advisors LLC bought a new position in Franco-Nevada in the fourth quarter valued at about $47,000. Point72 DIFC Ltd bought a new position in shares of Franco-Nevada in the 3rd quarter worth approximately $52,000. Erste Asset Management GmbH bought a new position in shares of Franco-Nevada in the 3rd quarter worth approximately $55,000. Birch Capital Management LLC boosted its holdings in shares of Franco-Nevada by 37.9% in the fourth quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock worth $128,000 after buying an additional 298 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Franco-Nevada during the third quarter valued at approximately $147,000. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 0.3 %

Franco-Nevada stock opened at $141.31 on Monday. Franco-Nevada Co. has a 52-week low of $103.64 and a 52-week high of $142.76. The firm’s fifty day moving average is $125.16 and its 200 day moving average is $124.72. The company has a market cap of $27.21 billion, a price-to-earnings ratio of -44.72, a PEG ratio of 9.88 and a beta of 0.74.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.38 dividend. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.08%. Franco-Nevada’s dividend payout ratio (DPR) is presently -48.10%.

Analysts Set New Price Targets

Several research firms have weighed in on FNV. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. HC Wainwright reiterated a “buy” rating and set a $155.00 target price on shares of Franco-Nevada in a research report on Tuesday, January 28th. Jefferies Financial Group cut their price target on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. UBS Group started coverage on Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective on the stock. Finally, Scotiabank cut their price objective on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.33.

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.