Desjardins Global Asset Management Inc. Takes Position in Franco-Nevada Co. (NYSE:FNV)

Desjardins Global Asset Management Inc. purchased a new position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 22,782 shares of the basic materials company's stock, valued at approximately $2,524,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. raised its position in Franco-Nevada by 3.3% during the 1st quarter. BlackRock Inc. now owns 386,741 shares of the basic materials company's stock valued at $61,693,000 after purchasing an additional 12,446 shares in the last quarter. Raymond James Trust N.A. raised its position in Franco-Nevada by 10.2% during the 1st quarter. Raymond James Trust N.A. now owns 1,995 shares of the basic materials company's stock valued at $318,000 after purchasing an additional 184 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Franco-Nevada by 23.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 69,166 shares of the basic materials company's stock valued at $11,035,000 after purchasing an additional 12,993 shares in the last quarter. Aviva PLC raised its position in Franco-Nevada by 5.8% during the 1st quarter. Aviva PLC now owns 62,996 shares of the basic materials company's stock valued at $10,040,000 after purchasing an additional 3,438 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Franco-Nevada by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 6,358,267 shares of the basic materials company's stock valued at $1,014,271,000 after purchasing an additional 141,139 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

FNV has been the subject of several recent research reports. Scotiabank reduced their price target on Franco-Nevada from $141.00 to $139.00 and set a "sector perform" rating for the company in a research report on Thursday, March 7th. Bank of America reduced their price target on Franco-Nevada from $138.00 to $136.00 and set a "buy" rating for the company in a research report on Monday, March 18th. TheStreet lowered Franco-Nevada from a "c+" rating to a "d+" rating in a research report on Tuesday, March 5th. Jefferies Financial Group initiated coverage on Franco-Nevada in a research report on Thursday, February 29th. They issued a "hold" rating and a $117.00 price target for the company. Finally, Raymond James boosted their price target on Franco-Nevada from $138.00 to $141.00 and gave the stock an "outperform" rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Franco-Nevada presently has an average rating of "Hold" and a consensus price target of $147.30.

Franco-Nevada Price Performance

Franco-Nevada stock traded up $0.67 during trading hours on Tuesday, hitting $117.08. 594,257 shares of the stock traded hands, compared to its average volume of 743,245. The firm's 50 day moving average price is $113.35 and its 200-day moving average price is $116.17. The stock has a market capitalization of $22.50 billion, a price-to-earnings ratio of -48.18, a P/E/G ratio of 6.49 and a beta of 0.71. Franco-Nevada Co. has a 1 year low of $102.29 and a 1 year high of $161.25.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The firm had revenue of $303.30 million for the quarter. Research analysts forecast that Franco-Nevada Co. will post 2.75 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.36 dividend. This is an increase from Franco-Nevada's previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.23%. Franco-Nevada's dividend payout ratio is presently -55.97%.

About Franco-Nevada

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.