Franco-Nevada Co. (NYSE:FNV) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,450 shares of the basic materials company's stock after purchasing an additional 2,961 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Franco-Nevada were worth $10,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. United Community Bank raised its position in shares of Franco-Nevada by 40.7% in the fourth quarter. United Community Bank now owns 830 shares of the basic materials company's stock worth $98,000 after acquiring an additional 240 shares during the period. Amundi increased its stake in shares of Franco-Nevada by 16.3% in the 4th quarter. Amundi now owns 879,349 shares of the basic materials company's stock valued at $111,985,000 after purchasing an additional 123,122 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Franco-Nevada in the 4th quarter worth about $642,000. EagleClaw Capital Managment LLC boosted its position in Franco-Nevada by 1.0% during the fourth quarter. EagleClaw Capital Managment LLC now owns 46,381 shares of the basic materials company's stock worth $5,454,000 after purchasing an additional 475 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in 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.

Remove Ads

Analysts Set New Price Targets

Several equities research analysts recently commented on FNV shares. Royal Bank of Canada boosted their price target 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. StockNews.com raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target on the stock. in a report on Tuesday. Finally, Raymond James lifted their price objective on shares of Franco-Nevada from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $153.63.

Franco-Nevada Trading Up 2.0 %

Shares of NYSE FNV traded up $2.99 during trading hours on Thursday, reaching $150.14. The stock had a trading volume of 1,740,884 shares, compared to its average volume of 617,900. The firm has a 50-day moving average of $135.47 and a 200-day moving average of $127.74. The firm has a market cap of $28.91 billion, a price-to-earnings ratio of -47.51, a PEG ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $152.78.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $321.00 million for the quarter, compared to analyst estimates of $304.33 million. During the same period last year, the firm posted $0.90 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.38 dividend. The ex-dividend date is 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 1.01%. Franco-Nevada's payout ratio is currently 53.15%.

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.