Proficio Capital Partners LLC Has $56.76 Million Stake in Franco-Nevada Co. (NYSE:FNV)

Proficio Capital Partners LLC increased its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 11,659.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 482,707 shares of the basic materials company’s stock after acquiring an additional 478,602 shares during the period. Proficio Capital Partners LLC’s holdings in Franco-Nevada were worth $56,762,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FNV. International Assets Investment Management LLC acquired a new position in Franco-Nevada during the third quarter worth $1,256,000. Assenagon Asset Management S.A. lifted its stake in Franco-Nevada by 5.3% in the third quarter. Assenagon Asset Management S.A. now owns 7,325 shares of the basic materials company’s stock valued at $911,000 after acquiring an additional 369 shares during the last quarter. Integrated Advisors Network LLC acquired a new stake in Franco-Nevada in the third quarter valued at $495,000. First Trust Direct Indexing L.P. acquired a new stake in Franco-Nevada in the third quarter valued at $201,000. Finally, US Bancorp DE lifted its stake in Franco-Nevada by 1.2% in the third quarter. US Bancorp DE now owns 21,924 shares of the basic materials company’s stock valued at $2,724,000 after acquiring an additional 264 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

FNV has been the subject of a number of recent analyst reports. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. HC Wainwright reiterated a “buy” rating and issued a $155.00 price target on shares of Franco-Nevada in a research note on Tuesday, January 28th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Royal Bank of Canada increased their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Finally, Scotiabank cut their price target on shares of 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. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $146.71.

Franco-Nevada Stock Performance

NYSE FNV opened at $141.26 on Friday. The firm has a 50-day moving average of $130.79 and a 200-day moving average of $126.37. The stock has a market cap of $27.20 billion, a PE ratio of -44.70, a P/E/G ratio of 9.78 and a beta of 0.74. Franco-Nevada Co. has a 52-week low of $103.64 and a 52-week high of $144.27.

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 given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.08%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is currently -48.10%.

Franco-Nevada 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.