Franco-Nevada Co. (NYSE:FNV) Shares Acquired by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. raised its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 159,439 shares of the basic materials company’s stock after purchasing an additional 1,916 shares during the quarter. Tocqueville Asset Management L.P. owned 0.08% of Franco-Nevada worth $18,748,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Laurel Wealth Advisors LLC acquired a new stake in shares of Franco-Nevada during the fourth quarter worth approximately $47,000. Point72 DIFC Ltd bought a new position in Franco-Nevada during the 3rd quarter valued at $52,000. Erste Asset Management GmbH acquired a new position in Franco-Nevada during the 3rd quarter worth $55,000. Harbour Investments Inc. increased its position in shares of Franco-Nevada by 25.8% in the 4th 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 last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Franco-Nevada in the 4th quarter valued at about $73,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FNV. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. UBS Group upped their price target on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. TD Securities downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, March 11th. Finally, Scotiabank boosted their target price on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $153.63.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $154.26 on Tuesday. The firm has a market capitalization of $29.70 billion, a P/E ratio of -48.82, a P/E/G ratio of 9.78 and a beta of 0.73. The company has a 50-day simple moving average of $137.34 and a 200-day simple moving average of $128.39. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $157.64.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. The company had revenue of $321.00 million for the quarter, compared to analyst estimates of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.90 earnings per share. As a group, sell-side analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

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

Franco-Nevada Company 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.