TD Asset Management Inc Increases Stock Holdings in Franco-Nevada Corporation $FNV

TD Asset Management Inc lifted its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 4.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,011,787 shares of the basic materials company’s stock after purchasing an additional 85,117 shares during the quarter. TD Asset Management Inc owned about 1.04% of Franco-Nevada worth $329,626,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FNV. CX Institutional purchased a new stake in shares of Franco-Nevada in the first quarter valued at about $30,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Franco-Nevada in the first quarter valued at about $32,000. Golden State Wealth Management LLC grew its holdings in shares of Franco-Nevada by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 115 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of Franco-Nevada by 494.7% in the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 188 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Franco-Nevada in the second quarter valued at about $57,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of FNV opened at $211.81 on Tuesday. The stock has a market capitalization of $40.82 billion, a PE ratio of 52.04, a P/E/G ratio of 2.67 and a beta of 0.42. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $225.63. The company’s 50-day simple moving average is $196.17 and its 200-day simple moving average is $175.13.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. The business had revenue of $369.40 million for the quarter, compared to analysts’ expectations of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The business’s quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 earnings per share. On average, sell-side analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 11th. Franco-Nevada’s dividend payout ratio is currently 37.35%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FNV shares. CIBC reissued an “outperform” rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Raymond James Financial upped their target price on shares of Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday. UBS Group upped their target price on shares of Franco-Nevada from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Scotiabank upped their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $196.86.

About Franco-Nevada

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.