TD Asset Management Inc Has $302.98 Million Position in Franco-Nevada Corporation (NYSE:FNV)

Key Points

• TD Asset Management Inc increased its stake in Franco-Nevada Corporation by 6.8% during the first quarter, reaching approximately 1.00% ownership valued at $302.9 million.
• Franco-Nevada reported $1.07 earnings per share (EPS) for the quarter, exceeding analysts' expectations of $1.00, with a revenue of $368.4 million, which was up 43.5% year-over-year.
• The company declared a quarterly dividend of $0.38 per share, with a dividend yield of 0.93% and a payout ratio of 47.50% as of the latest reporting period.

TD Asset Management Inc boosted its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 6.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,926,670 shares of the basic materials company's stock after buying an additional 122,071 shares during the quarter. TD Asset Management Inc owned approximately 1.00% of Franco-Nevada worth $302,979,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FNV. CX Institutional purchased a new stake in Franco-Nevada in the 1st quarter worth approximately $30,000. Cullen Frost Bankers Inc. acquired a new position in shares of Franco-Nevada during the 1st quarter worth $32,000. Nexus Investment Management ULC acquired a new position in Franco-Nevada in the 1st quarter valued at $35,000. Golden State Wealth Management LLC grew its stake in Franco-Nevada by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after buying an additional 115 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in Franco-Nevada by 494.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after buying an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. UBS Group raised their price target on shares of Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Finally, CIBC reaffirmed an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $172.13.

Franco-Nevada Price Performance

NYSE FNV traded up $1.62 on Tuesday, hitting $162.20. 566,347 shares of the stock were exchanged, compared to its average volume of 846,362. The business's fifty day moving average is $164.93 and its 200 day moving average is $155.14. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $179.99. The company has a market capitalization of $31.25 billion, a PE ratio of 50.69, a P/E/G ratio of 2.17 and a beta of 0.41.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.07. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The business had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. During the same quarter in the prior year, the business earned $0.76 EPS. Franco-Nevada's quarterly revenue was up 43.5% on a year-over-year basis. Analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Thursday, June 12th. Franco-Nevada's dividend payout ratio is 47.50%.

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.