Franco-Nevada Corporation $FNV Stock: TD Waterhouse Canada Inc. Grows Holdings

TD Waterhouse Canada Inc. lifted its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 846,399 shares of the basic materials company’s stock after purchasing an additional 29,092 shares during the period. TD Waterhouse Canada Inc. owned 0.44% of Franco-Nevada worth $196,535,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FNV. Banque Pictet & Cie SA purchased a new position in shares of Franco-Nevada during the 3rd quarter worth $1,629,000. Annex Advisory Services LLC boosted its position in shares of Franco-Nevada by 63.4% during the 3rd quarter. Annex Advisory Services LLC now owns 262,442 shares of the basic materials company’s stock valued at $62,490,000 after acquiring an additional 101,837 shares during the last quarter. Global Strategic Management Inc. grew its holdings in shares of Franco-Nevada by 0.6% in the third quarter. Global Strategic Management Inc. now owns 76,915 shares of the basic materials company’s stock valued at $18,354,000 after purchasing an additional 430 shares during the period. Sanders Morris Harris LLC purchased a new position in Franco-Nevada during the third quarter worth about $415,000. Finally, Euro Pacific Asset Management LLC boosted its holdings in Franco-Nevada by 1.1% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 251,885 shares of the basic materials company’s stock valued at $66,421,000 after purchasing an additional 2,727 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

Shares of FNV stock traded up $2.75 during trading hours on Friday, hitting $243.63. The company had a trading volume of 438,426 shares, compared to its average volume of 744,178. The stock has a market capitalization of $46.99 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 2.21 and a beta of 0.36. The company’s fifty day moving average is $253.34 and its 200 day moving average is $236.33. Franco-Nevada Corporation has a fifty-two week low of $181.50 and a fifty-two week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The company had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. During the same quarter last year, the business posted $1.24 EPS. The firm’s revenue for the quarter was up 57.3% on a year-over-year basis. Equities analysts forecast that Franco-Nevada Corporation will post 7.56 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. Franco-Nevada’s payout ratio is presently 23.01%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FNV shares. Jefferies Financial Group reduced their price target on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. Bank of America lowered their price objective on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Royal Bank Of Canada raised their target price on Franco-Nevada from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Zacks Research upgraded Franco-Nevada from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, UBS Group decreased their price target on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $267.80.

Franco-Nevada Company Profile

Franco-Nevada Corporation (NYSE:FNV) is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and natural resource companies in exchange for the right to receive a portion of future production or revenue. This business model gives Franco-Nevada exposure to commodity production while generally limiting its direct responsibility for operating and capital costs.

The company holds a diversified portfolio of royalties, streams and other interests tied primarily to gold, as well as silver, platinum-group metals, iron ore and other minerals.