TD Waterhouse Canada Inc. Has $30.43 Million Stake in Franco-Nevada Co. (NYSE:FNV)

TD Waterhouse Canada Inc. lessened its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 262,273 shares of the basic materials company’s stock after selling 10,387 shares during the period. TD Waterhouse Canada Inc. owned 0.14% of Franco-Nevada worth $30,430,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FNV. Barclays PLC boosted its position in shares of Franco-Nevada by 29.4% during the 3rd quarter. Barclays PLC now owns 35,828 shares of the basic materials company’s stock worth $4,450,000 after purchasing an additional 8,147 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Franco-Nevada during the 3rd quarter worth approximately $326,000. Tri Ri Asset Management Corp bought a new position in Franco-Nevada in the third quarter worth approximately $3,433,000. Franklin Resources Inc. grew its stake in Franco-Nevada by 8.3% in the third quarter. Franklin Resources Inc. now owns 79,232 shares of the basic materials company’s stock valued at $9,957,000 after acquiring an additional 6,052 shares during the period. Finally, Confluence Investment Management LLC increased its holdings in shares of Franco-Nevada by 8.7% during the fourth quarter. Confluence Investment Management LLC now owns 5,790 shares of the basic materials company’s stock valued at $681,000 after acquiring an additional 465 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FNV. Royal Bank of Canada raised their price objective 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. BMO Capital Markets began coverage on Franco-Nevada in a report on Wednesday, April 16th. They set an “outperform” rating for the company. Scotiabank raised their target price on Franco-Nevada from $150.00 to $165.00 and gave the company a “sector perform” rating in a report on Monday, April 14th. Raymond James lifted their target price on Franco-Nevada from $162.00 to $181.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Finally, HC Wainwright increased their price target on Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $162.25.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $171.14 on Monday. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $175.33. The company’s 50-day moving average is $150.39 and its 200 day moving average is $134.39. The company has a market capitalization of $32.95 billion, a P/E ratio of -54.16, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68.

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

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 0.89%. Franco-Nevada’s dividend payout ratio is 53.15%.

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.