Franco-Nevada Co. (NYSE:FNV) Shares Purchased by TD Asset Management Inc.

TD Asset Management Inc. grew its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,804,599 shares of the basic materials company’s stock after acquiring an additional 48,777 shares during the quarter. TD Asset Management Inc.’s holdings in Franco-Nevada were worth $211,954,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Laurel Wealth Advisors LLC bought a new stake in Franco-Nevada in the 4th quarter valued at about $47,000. Point72 DIFC Ltd bought a new position in Franco-Nevada in the 3rd quarter worth about $52,000. Harbour Investments Inc. increased its stake in shares of Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 93 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Franco-Nevada during the third quarter valued at approximately $55,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Franco-Nevada during the fourth quarter worth approximately $73,000. Institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. TD Securities cut Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research report on Tuesday, March 11th. Raymond James raised their price target on Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Royal Bank of Canada raised their target price 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, HC Wainwright upped their price target on shares of Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Five equities research 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $153.63.

Franco-Nevada Price Performance

FNV stock opened at $155.74 on Wednesday. The firm has a market cap of $29.99 billion, a PE ratio of -49.28, a P/E/G ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $158.52. The firm has a 50 day simple moving average of $140.84 and a 200 day simple moving average of $129.88.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. The business had revenue of $321.00 million during 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 company’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.90 EPS. As a group, sell-side analysts expect that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

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

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.