TD Waterhouse Canada Inc. Acquires 29,092 Shares of Franco-Nevada Corporation $FNV

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

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

Franco-Nevada Trading Up 1.1%

NYSE:FNV traded up $2.75 during mid-day trading on Friday, hitting $243.63. The stock had a trading volume of 438,426 shares, compared to its average volume of 744,178. Franco-Nevada Corporation has a twelve month low of $181.50 and a twelve month high of $285.67. The stock has a 50-day simple moving average of $253.34 and a two-hundred day simple moving average of $236.33. The company has a market capitalization of $46.99 billion, a PE ratio of 31.85, a PEG ratio of 2.21 and a beta of 0.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%. The firm had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. During the same quarter last year, the firm earned $1.24 EPS. The company’s revenue was up 57.3% on a year-over-year basis. Sell-side analysts predict that Franco-Nevada Corporation will post 7.56 EPS for the current fiscal 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 issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, September 10th. Franco-Nevada’s dividend payout ratio (DPR) is presently 23.01%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Zacks Research upgraded shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Bank of America reduced their price objective on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. UBS Group decreased their target price on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Jefferies Financial Group lowered their target price on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research note on Monday, July 6th. Finally, Weiss Ratings upgraded Franco-Nevada from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and an average target price of $267.80.

Franco-Nevada 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.