Franco-Nevada Co. (NYSE:FNV) Shares Acquired by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC grew its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 988,033 shares of the basic materials company’s stock after acquiring an additional 52,199 shares during the period. Franco-Nevada accounts for 1.4% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 8th largest position. Horizon Kinetics Asset Management LLC’s holdings in Franco-Nevada were worth $116,183,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC acquired a new stake in Franco-Nevada during the fourth quarter worth approximately $47,000. Point72 DIFC Ltd bought a new position in shares of Franco-Nevada during the third quarter worth approximately $52,000. Harbour Investments Inc. increased its holdings in shares of Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 93 shares during the period. Erste Asset Management GmbH bought a new position in shares of Franco-Nevada during the third quarter worth approximately $55,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Franco-Nevada during the fourth quarter worth approximately $73,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FNV shares. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. HC Wainwright raised their target price on shares of Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Raymond James raised their target price on shares of Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.63.

Franco-Nevada Stock Performance

NYSE FNV opened at $153.45 on Monday. The firm’s fifty day moving average price is $136.67 and its two-hundred day moving average price is $128.16. The stock has a market cap of $29.55 billion, a PE ratio of -48.56, a PEG ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $153.84.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The firm had revenue of $321.00 million for the quarter, compared to analysts’ expectations of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, sell-side analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is 53.15%.

About Franco-Nevada

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.