O Brien Greene & Co. Inc increased its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 22.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,382 shares of the basic materials company’s stock after buying an additional 8,725 shares during the period. Franco-Nevada comprises approximately 2.4% of O Brien Greene & Co. Inc’s portfolio, making the stock its 15th largest position. O Brien Greene & Co. Inc’s holdings in Franco-Nevada were worth $5,936,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlas Private Wealth Advisors acquired a new position in shares of Franco-Nevada in the 1st quarter worth approximately $25,000. Valeo Financial Advisors LLC lifted its position in shares of Franco-Nevada by 63.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 240 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 93 shares during the period. Bogart Wealth LLC acquired a new position in shares of Franco-Nevada during the 1st quarter valued at $33,000. St. Johns Investment Management Company LLC acquired a new position in shares of Franco-Nevada during the 1st quarter valued at $34,000. Finally, First Horizon Advisors Inc. acquired a new position in shares of Franco-Nevada during the 1st quarter valued at $50,000. Hedge funds and other institutional investors own 68.39% of the company’s stock.
Shares of Franco-Nevada stock traded down $3.08 on Friday, reaching $151.74. The stock had a trading volume of 29,831 shares, compared to its average volume of 655,585. Franco-Nevada Co. has a 1 year low of $105.62 and a 1 year high of $166.11. The stock has a market capitalization of $28.99 billion, a P/E ratio of 49.46, a P/E/G ratio of 11.36 and a beta of 0.58. The stock’s 50 day moving average price is $143.98.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 24th. Stockholders of record on Thursday, June 10th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.79%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, June 9th. Franco-Nevada’s dividend payout ratio is presently 28.78%.
A number of research analysts recently issued reports on the stock. Industrial Alliance Securities reiterated a “buy” rating and set a C$250.00 target price on shares of Franco-Nevada in a research report on Friday. Barclays upgraded shares of Franco-Nevada from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $102.00 to $104.00 in a research note on Friday, March 12th. Royal Bank of Canada upped their target price on shares of Franco-Nevada from $130.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Monday, April 26th. JPMorgan Chase & Co. began coverage on shares of Franco-Nevada in a research note on Thursday, March 4th. They issued a “neutral” rating and a $152.00 target price for the company. Finally, Raymond James boosted their price target on shares of Franco-Nevada from $166.00 to $172.00 and gave the stock an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $163.85.
Franco-Nevada Company Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Latin America, Canada, Australia, Europe, and Africa, and internationally. It operates through two segment, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids.
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