Toronto Dominion Bank Boosts Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Toronto Dominion Bank boosted its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 69.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 384,892 shares of the basic materials company’s stock after purchasing an additional 157,288 shares during the period. Toronto Dominion Bank’s holdings in Franco-Nevada were worth $45,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in FNV. Meixler Investment Management Ltd. increased its holdings in Franco-Nevada by 0.5% during the 2nd quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock worth $2,543,000 after acquiring an additional 101 shares during the period. Natixis Advisors LLC grew its position in shares of Franco-Nevada by 0.5% during the 2nd quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock valued at $2,272,000 after purchasing an additional 101 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Franco-Nevada by 33.3% in the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 110 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Franco-Nevada by 6.9% in the first quarter. Gulf International Bank UK Ltd now owns 1,722 shares of the basic materials company’s stock worth $205,000 after buying an additional 111 shares in the last quarter. Finally, Primoris Wealth Advisors LLC raised its position in shares of Franco-Nevada by 4.7% in the second quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock worth $293,000 after buying an additional 112 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Price Performance

Shares of FNV opened at $129.97 on Thursday. Franco-Nevada Co. has a 1 year low of $102.29 and a 1 year high of $142.60. The stock has a 50 day simple moving average of $123.47 and a two-hundred day simple moving average of $121.84. The firm has a market cap of $25.01 billion, a P/E ratio of -52.20, a P/E/G ratio of 21.28 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The business had revenue of $260.10 million during the quarter, compared to analysts’ expectations of $277.44 million. During the same period last year, the company posted $0.95 EPS. Franco-Nevada’s revenue for the quarter was down 21.2% on a year-over-year basis. On average, equities analysts anticipate that Franco-Nevada Co. will post 3.23 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.11%. Franco-Nevada’s dividend payout ratio (DPR) is currently -57.83%.

Analysts Set New Price Targets

FNV has been the subject of several recent analyst reports. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Bank of America lifted their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, HC Wainwright reissued a “buy” rating and issued a $185.00 price target on shares of Franco-Nevada in a research note on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.