Greenhouse Funds LLLP boosted its holdings in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 15.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,596 shares of the basic materials company’s stock after purchasing an additional 5,528 shares during the period. Franco Nevada comprises 0.9% of Greenhouse Funds LLLP’s portfolio, making the stock its 28th biggest holding. Greenhouse Funds LLLP’s holdings in Franco Nevada were worth $3,246,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. lifted its stake in Franco Nevada by 453.9% during the third quarter. Advisors Asset Management Inc. now owns 1,922 shares of the basic materials company’s stock worth $149,000 after purchasing an additional 1,575 shares during the period. Lombard Odier Asset Management Europe Ltd bought a new position in Franco Nevada during the fourth quarter worth about $237,000. American International Group Inc. bought a new position in Franco Nevada during the fourth quarter worth about $197,000. Cigna Investments Inc. New bought a new position in Franco Nevada during the fourth quarter worth about $203,000. Finally, Gratus Capital LLC bought a new position in Franco Nevada during the third quarter worth about $201,000. Hedge funds and other institutional investors own 63.37% of the company’s stock.
Franco Nevada Corp (FNV) opened at $69.45 on Wednesday. Franco Nevada Corp has a 1 year low of $60.83 and a 1 year high of $86.06. The firm has a market cap of $12,890.00, a P/E ratio of 65.40, a P/E/G ratio of 14.38 and a beta of -0.02.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Wednesday, March 14th. Franco Nevada’s dividend payout ratio (DPR) is presently 86.79%.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Franco Nevada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 19th. TD Securities cut their target price on shares of Franco Nevada from $96.00 to $93.00 and set a “buy” rating for the company in a research note on Friday, March 9th. Desjardins reiterated a “sell” rating on shares of Franco Nevada in a research note on Monday, December 11th. Raymond James Financial cut their target price on shares of Franco Nevada from $93.00 to $91.00 and set an “outperform” rating for the company in a research note on Friday, March 9th. Finally, Credit Suisse Group set a $80.00 target price on shares of Franco Nevada and gave the company a “hold” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Franco Nevada presently has a consensus rating of “Hold” and a consensus price target of $88.00.
Franco Nevada Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco Nevada Corp (NYSE:FNV) (TSE:FNV).
Receive News & Ratings for Franco Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco Nevada and related companies with MarketBeat.com's FREE daily email newsletter.