Public Sector Pension Investment Board reduced its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 38.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,980 shares of the company’s stock after selling 189,800 shares during the period. Public Sector Pension Investment Board owned about 0.17% of Franco-Nevada Corporation worth $18,556,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FNV. Van ECK Associates Corp raised its stake in shares of Franco-Nevada Corporation by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 10,107,441 shares of the company’s stock valued at $604,021,000 after buying an additional 1,495,391 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Franco-Nevada Corporation during the third quarter valued at about $71,833,000. Renaissance Technologies LLC raised its stake in shares of Franco-Nevada Corporation by 214.7% in the fourth quarter. Renaissance Technologies LLC now owns 838,100 shares of the company’s stock valued at $50,074,000 after buying an additional 571,800 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Franco-Nevada Corporation during the fourth quarter valued at about $32,165,000. Finally, Guardian Capital LP raised its stake in shares of Franco-Nevada Corporation by 79.6% in the fourth quarter. Guardian Capital LP now owns 847,567 shares of the company’s stock valued at $50,676,000 after buying an additional 375,645 shares during the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.

Institutional Ownership by Quarter for Franco-Nevada Corporation (NYSE:FNV)

Shares of Franco-Nevada Corporation (NYSE:FNV) traded up 0.80% during mid-day trading on Thursday, hitting $68.42. 673,466 shares of the company traded hands. The firm has a 50-day moving average of $64.42 and a 200-day moving average of $66.11. The stock has a market capitalization of $12.20 billion, a price-to-earnings ratio of 122.84 and a beta of 0.08. Franco-Nevada Corporation has a one year low of $53.31 and a one year high of $81.16.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 16th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, March 14th. Franco-Nevada Corporation’s dividend payout ratio is presently 169.23%.

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Several equities research analysts have issued reports on FNV shares. Deutsche Bank AG lowered shares of Franco-Nevada Corporation from a “buy” rating to a “hold” rating and lowered their price target for the company from $74.00 to $66.00 in a research note on Tuesday, December 20th. Vetr downgraded shares of Franco-Nevada Corporation from a “hold” rating to a “sell” rating and set a $65.43 price objective for the company. in a research report on Thursday, November 3rd. Desjardins began coverage on shares of Franco-Nevada Corporation in a research report on Wednesday, October 26th. They issued a “buy” rating for the company. Credit Suisse Group raised shares of Franco-Nevada Corporation from a “neutral” rating to an “outperform” rating and set a $79.00 price objective for the company in a research report on Friday, January 13th. Finally, Zacks Investment Research downgraded shares of Franco-Nevada Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Franco-Nevada Corporation has an average rating of “Hold” and a consensus price target of $77.72.

Franco-Nevada Corporation Company Profile

Franco-Nevada Corp (Franco-Nevada) is a Canada-based gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. It operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.

5 Day Chart for NYSE:FNV

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