TD Asset Management Inc Purchases 74,145 Shares of Franco-Nevada Co. (NYSE:FNV)

TD Asset Management Inc lifted its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,725,976 shares of the basic materials company’s stock after buying an additional 74,145 shares during the period. TD Asset Management Inc owned about 0.90% of Franco-Nevada worth $204,592,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in Franco-Nevada in the second quarter valued at approximately $276,446,000. Norges Bank bought a new stake in Franco-Nevada in the 4th quarter valued at $221,351,000. M&G Plc acquired a new position in Franco-Nevada in the 1st quarter worth $219,971,000. Capital World Investors increased its holdings in Franco-Nevada by 45.8% during the 4th quarter. Capital World Investors now owns 4,477,105 shares of the basic materials company’s stock worth $495,909,000 after purchasing an additional 1,405,731 shares in the last quarter. Finally, EdgePoint Investment Group Inc. raised its stake in shares of Franco-Nevada by 68.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock valued at $328,972,000 after purchasing an additional 1,117,523 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Shares of FNV stock opened at $119.49 on Friday. The company has a fifty day moving average price of $123.35 and a two-hundred day moving average price of $120.17. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $145.82. The stock has a market cap of $22.99 billion, a P/E ratio of -47.99, a P/E/G ratio of 20.73 and a beta of 0.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). The firm had revenue of $260.10 million during the quarter, compared to analyst estimates of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The company’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter last year, the business posted $0.95 earnings per share. As a group, equities research analysts anticipate that Franco-Nevada Co. will post 3.2 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, September 12th. Franco-Nevada’s payout ratio is presently -57.83%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FNV shares. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group raised their price target on shares of Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Bank of America boosted their price objective on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $185.00 price target on shares of Franco-Nevada in a research note on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $152.75.

Franco-Nevada Company 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.