Scotia Capital Inc. Acquires 6,266 Shares of Franco-Nevada Co. (NYSE:FNV)

Scotia Capital Inc. lifted its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 0.07% of Franco-Nevada worth $16,486,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of Franco-Nevada by 2.3% in the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company's stock valued at $1,004,046,000 after buying an additional 193,968 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Franco-Nevada by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company's stock valued at $916,540,000 after purchasing an additional 132,465 shares during the period. Bank of Montreal Can raised its holdings in shares of Franco-Nevada by 0.3% in the 4th quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company's stock worth $622,124,000 after buying an additional 15,273 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Franco-Nevada by 3.3% during the 4th quarter. First Eagle Investment Management LLC now owns 3,366,544 shares of the basic materials company's stock worth $395,113,000 after buying an additional 107,043 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Franco-Nevada by 0.7% in the 4th quarter. Renaissance Technologies LLC now owns 3,159,439 shares of the basic materials company's stock valued at $371,518,000 after buying an additional 20,890 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

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Franco-Nevada Trading Up 5.5 %

Shares of FNV traded up $8.65 during trading hours on Friday, hitting $166.13. 2,125,418 shares of the stock traded hands, compared to its average volume of 684,077. The business has a fifty day moving average of $147.54 and a 200-day moving average of $132.76. The firm has a market capitalization of $31.99 billion, a PE ratio of -52.57, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. Franco-Nevada Co. has a 1-year low of $112.70 and a 1-year high of $167.36.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Monday, March 10th. The basic materials company reported $0.95 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 company had revenue of $321.00 million during the quarter, compared to analysts' expectations of $304.33 million. During the same quarter in the previous year, the company posted $0.90 EPS. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts expect that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.38 dividend. The ex-dividend date was Thursday, March 13th. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 0.91%. Franco-Nevada's dividend payout ratio (DPR) is 53.15%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FNV shares. National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a research note on Wednesday, April 2nd. Scotiabank increased their target price on shares of Franco-Nevada from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 11th. TD Securities lowered shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target on the stock. in a research report on Tuesday, March 11th. Royal Bank of Canada raised their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. Finally, UBS Group boosted their target price on Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Franco-Nevada currently has an average rating of "Moderate Buy" and a consensus target price of $160.38.

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.