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

Tocqueville Asset Management L.P. increased its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 159,439 shares of the basic materials company’s stock after buying an additional 1,916 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Franco-Nevada were worth $18,748,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in Franco-Nevada by 7.4% during the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after buying an additional 102 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Franco-Nevada by 6.5% in the 3rd quarter. Natixis Advisors LLC now owns 20,404 shares of the basic materials company’s stock valued at $2,535,000 after acquiring an additional 1,237 shares during the last quarter. Swiss National Bank boosted its position in shares of Franco-Nevada by 0.8% during the 3rd quarter. Swiss National Bank now owns 581,560 shares of the basic materials company’s stock valued at $72,347,000 after purchasing an additional 4,900 shares in the last quarter. Drive Wealth Management LLC grew its stake in shares of Franco-Nevada by 11.9% in the 3rd quarter. Drive Wealth Management LLC now owns 3,355 shares of the basic materials company’s stock worth $417,000 after purchasing an additional 356 shares during the last quarter. Finally, Beddow Capital Management Inc. raised its holdings in shares of Franco-Nevada by 1.4% in the 3rd quarter. Beddow Capital Management Inc. now owns 57,882 shares of the basic materials company’s stock worth $7,192,000 after purchasing an additional 790 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Trading Up 0.6 %

Shares of NYSE:FNV opened at $154.26 on Tuesday. The firm has a market cap of $29.70 billion, a price-to-earnings ratio of -48.82, a P/E/G ratio of 9.78 and a beta of 0.73. The business has a fifty day simple moving average of $137.34 and a 200 day simple moving average of $128.39. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $157.64.

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, 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 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 last year, the company earned $0.90 earnings per share. On average, sell-side analysts forecast that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

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

Wall Street Analysts Forecast Growth

FNV has been the subject of a number of research reports. 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. Raymond James raised their price objective on Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. UBS Group boosted their target price on Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Scotiabank boosted their price objective on Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $153.63.

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.