Tobam Raises Stake in Franco-Nevada Co. (NYSE:FNV)

Tobam lifted its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 34.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,391 shares of the basic materials company’s stock after purchasing an additional 611 shares during the period. Tobam’s holdings in Franco-Nevada were worth $266,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC purchased a new position in Franco-Nevada during the 3rd quarter valued at about $30,000. Castleview Partners LLC acquired a new position in shares of Franco-Nevada during the 3rd quarter worth approximately $33,000. Creative Financial Designs Inc. ADV purchased a new stake in Franco-Nevada in the 4th quarter valued at approximately $34,000. State of Wyoming acquired a new stake in Franco-Nevada during the 4th quarter valued at $38,000. Finally, Allworth Financial LP raised its holdings in shares of Franco-Nevada by 5,750.0% in the fourth quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 345 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Down 0.2 %

Shares of FNV opened at $121.58 on Thursday. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $161.25. The firm has a market cap of $23.37 billion, a price-to-earnings ratio of -50.03, a PEG ratio of 6.77 and a beta of 0.71. The stock has a 50 day moving average of $112.50 and a 200-day moving average of $116.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The firm had revenue of $303.30 million during the quarter. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. On average, sell-side analysts predict that Franco-Nevada Co. will post 2.68 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.36 per share. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.18%. Franco-Nevada’s dividend payout ratio is -55.97%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Scotiabank decreased their target price on shares of Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 7th. TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Jefferies Financial Group started coverage on Franco-Nevada in a research note on Thursday, February 29th. They issued a “hold” rating and a $117.00 price target on the stock. Finally, Bank of America cut their target price on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $147.30.

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.