TD Waterhouse Canada Inc. Purchases 8,590 Shares of Franco-Nevada Corporation $FNV

TD Waterhouse Canada Inc. lifted its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,337 shares of the basic materials company’s stock after acquiring an additional 8,590 shares during the period. TD Waterhouse Canada Inc. owned approximately 0.15% of Franco-Nevada worth $58,636,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Franco-Nevada by 51.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,389 shares of the basic materials company’s stock valued at $15,648,000 after acquiring an additional 25,487 shares in the last quarter. Bayforest Capital Ltd bought a new stake in shares of Franco-Nevada during the fourth quarter valued at approximately $70,000. Elevated Capital Advisors LLC bought a new stake in shares of Franco-Nevada during the fourth quarter valued at approximately $74,000. Wealth Enhancement Trust Services Inc. bought a new stake in shares of Franco-Nevada during the fourth quarter valued at approximately $658,000. Finally, Latitude Advisors LLC increased its position in shares of Franco-Nevada by 10.0% during the fourth quarter. Latitude Advisors LLC now owns 1,323 shares of the basic materials company’s stock valued at $274,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Up 0.1%

NYSE:FNV opened at $262.71 on Monday. Franco-Nevada Corporation has a 12 month low of $152.89 and a 12 month high of $285.67. The company has a market cap of $50.65 billion, a PE ratio of 45.61, a price-to-earnings-growth ratio of 2.80 and a beta of 0.47. The company has a 50 day simple moving average of $254.70 and a two-hundred day simple moving average of $227.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.18. Franco-Nevada had a net margin of 61.01% and a return on equity of 15.62%. The business had revenue of $597.30 million during the quarter, compared to the consensus estimate of $542.02 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm’s revenue was up 86.1% on a year-over-year basis. Research analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FNV. Zacks Research downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. HC Wainwright raised their price target on shares of Franco-Nevada from $285.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Weiss Ratings raised shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, March 20th. Wall Street Zen downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $257.25.

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.