TD Waterhouse Canada Inc. Trims Position in Franco-Nevada Co. (NYSE:FNV)

TD Waterhouse Canada Inc. trimmed its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 262,273 shares of the basic materials company’s stock after selling 10,387 shares during the period. TD Waterhouse Canada Inc.’s holdings in Franco-Nevada were worth $30,430,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FNV. Laurel Wealth Advisors LLC bought a new stake in Franco-Nevada during the 4th quarter worth approximately $47,000. Physician Wealth Advisors Inc. bought a new position in shares of Franco-Nevada in the fourth quarter worth $49,000. Harbour Investments Inc. raised its position 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 worth $53,000 after buying an additional 93 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Franco-Nevada in the fourth quarter worth $73,000. Finally, Jones Financial Companies Lllp boosted its stake in Franco-Nevada by 25.6% during the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company’s stock valued at $73,000 after buying an additional 126 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Trading Down 0.8 %

Shares of NYSE:FNV opened at $171.14 on Monday. The company has a market cap of $32.95 billion, a price-to-earnings ratio of -54.16, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. The company has a 50-day moving average price of $150.39 and a 200-day moving average price of $134.39. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $175.33.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The firm had revenue of $321.00 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. As a group, research analysts forecast that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.38 dividend. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.89%. Franco-Nevada’s dividend payout ratio (DPR) is presently 53.15%.

Wall Street Analyst Weigh In

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

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.