TD Waterhouse Canada Inc. Boosts Holdings in Franco-Nevada Corporation $FNV

TD Waterhouse Canada Inc. lifted its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 8.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 275,747 shares of the basic materials company’s stock after purchasing an additional 20,664 shares during the period. TD Waterhouse Canada Inc.’s holdings in Franco-Nevada were worth $59,623,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Franco-Nevada by 4.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 114,465 shares of the basic materials company’s stock valued at $25,515,000 after buying an additional 4,900 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Franco-Nevada by 210.4% during the 2nd quarter. Osaic Holdings Inc. now owns 18,235 shares of the basic materials company’s stock valued at $2,989,000 after buying an additional 12,360 shares in the last quarter. Altfest L J & Co. Inc. increased its stake in Franco-Nevada by 189.2% in the 3rd quarter. Altfest L J & Co. Inc. now owns 7,556 shares of the basic materials company’s stock worth $1,684,000 after buying an additional 4,943 shares in the last quarter. Markel Group Inc. lifted its position in shares of Franco-Nevada by 8.4% in the second quarter. Markel Group Inc. now owns 569,500 shares of the basic materials company’s stock valued at $93,352,000 after acquiring an additional 44,250 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its holdings in Franco-Nevada by 2.6% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 1,043,546 shares of the basic materials company’s stock worth $171,058,000 after purchasing an additional 26,772 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

FNV has been the subject of a number of research reports. Royal Bank Of Canada raised Franco-Nevada from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $225.00 to $250.00 in a research note on Wednesday, December 10th. Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 24th. TD Securities lowered their target price on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. Scotiabank lifted their price objective on Franco-Nevada from $225.00 to $283.00 and gave the company a “sector perform” rating in a report on Monday. Finally, Weiss Ratings downgraded shares of Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Franco-Nevada has a consensus rating of “Hold” and an average target price of $240.00.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $267.99 on Thursday. The company has a market cap of $51.67 billion, a PE ratio of 56.18, a P/E/G ratio of 1.48 and a beta of 0.48. The business has a 50-day simple moving average of $219.60 and a two-hundred day simple moving average of $199.95. Franco-Nevada Corporation has a fifty-two week low of $130.05 and a fifty-two week high of $268.80.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. The business had revenue of $487.70 million for the quarter, compared to analyst estimates of $448.51 million. Franco-Nevada had a net margin of 59.48% and a return on equity of 13.94%. Franco-Nevada’s revenue for the quarter was up 76.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 EPS. On average, sell-side analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 12th. Franco-Nevada’s dividend payout ratio is presently 31.87%.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.