TD Asset Management Inc. Increases Stock Position in Franco-Nevada Co. (NYSE:FNV)

TD Asset Management Inc. raised its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,804,599 shares of the basic materials company’s stock after acquiring an additional 48,777 shares during the period. TD Asset Management Inc. owned approximately 0.94% of Franco-Nevada worth $211,954,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FNV. Laurel Wealth Advisors LLC acquired a new stake in Franco-Nevada in the 4th quarter valued at $47,000. Point72 DIFC Ltd purchased a new stake in shares of Franco-Nevada in the third quarter worth about $52,000. Erste Asset Management GmbH acquired a new stake in shares of Franco-Nevada in the third quarter valued at about $55,000. Harbour Investments Inc. raised its holdings in shares of Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after buying an additional 93 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Franco-Nevada during the 4th quarter worth approximately $73,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Down 0.0 %

Shares of NYSE FNV opened at $155.74 on Wednesday. The stock’s 50 day moving average price is $140.84 and its two-hundred day moving average price is $129.88. Franco-Nevada Co. has a 52-week low of $112.70 and a 52-week high of $158.52. The stock has a market capitalization of $29.99 billion, a P/E ratio of -49.28, a PEG ratio of 9.78 and a beta of 0.73.

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

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.38 per share. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 0.98%. Franco-Nevada’s dividend payout ratio is 53.15%.

Wall Street Analyst Weigh In

FNV has been the subject of several recent research reports. Scotiabank increased their price objective on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 11th. Raymond James raised their price target on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. UBS Group boosted their price objective on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Royal Bank of Canada raised their target price on 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, StockNews.com upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.63.

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.