Scotia Capital Inc. Grows Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Scotia Capital Inc. grew its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,812 shares of the basic materials company's stock after purchasing an additional 6,266 shares during the quarter. Scotia Capital Inc. owned approximately 0.07% of Franco-Nevada worth $16,486,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FNV. Covea Finance boosted its position in shares of Franco-Nevada by 2.7% during the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company's stock valued at $11,895,000 after acquiring an additional 2,700 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Franco-Nevada by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company's stock valued at $49,702,000 after purchasing an additional 16,029 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Franco-Nevada by 5.0% in the fourth quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company's stock valued at $113,200,000 after purchasing an additional 45,495 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Franco-Nevada by 113.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company's stock worth $601,000 after purchasing an additional 2,710 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Franco-Nevada in the fourth quarter valued at approximately $12,280,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Up 1.3 %

Shares of FNV stock traded up $2.24 during trading on Wednesday, hitting $171.48. The company had a trading volume of 513,719 shares, compared to its average volume of 688,218. The stock has a market capitalization of $33.02 billion, a price-to-earnings ratio of -54.27, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. The stock's 50-day moving average is $148.63 and its two-hundred day moving average is $133.32. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $176.01.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $321.00 million during the quarter, compared to analyst estimates of $304.33 million. During the same period last year, the business earned $0.90 earnings per share. The business's revenue was up 5.8% on a year-over-year basis. On average, research analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 0.89%. Franco-Nevada's dividend payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FNV shares. UBS Group upped their price objective on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. TD Securities downgraded shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target for the company. in a report on Tuesday, March 11th. StockNews.com upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Royal Bank of Canada upped their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Finally, Raymond James upped their price objective on Franco-Nevada from $162.00 to $181.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $162.25.

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.