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

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 8.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 89,489 shares of the basic materials company's stock after buying an additional 6,676 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Franco-Nevada were worth $11,127,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FNV. Janus Henderson Group PLC raised its position in shares of Franco-Nevada by 44.4% during the 1st quarter. Janus Henderson Group PLC now owns 63,540 shares of the basic materials company's stock worth $7,576,000 after purchasing an additional 19,551 shares during the last quarter. Confluence Investment Management LLC increased its position in Franco-Nevada by 7.9% during the 2nd quarter. Confluence Investment Management LLC now owns 4,869 shares of the basic materials company's stock worth $577,000 after purchasing an additional 357 shares in the last quarter. Mather Group LLC. acquired a new position in Franco-Nevada in the 2nd quarter valued at about $33,000. QV Investors Inc. lifted its holdings in Franco-Nevada by 24.6% in the 2nd quarter. QV Investors Inc. now owns 249,909 shares of the basic materials company's stock valued at $29,624,000 after purchasing an additional 49,308 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of Franco-Nevada during the 2nd quarter worth about $79,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Price Performance

NYSE:FNV traded down $0.34 during mid-day trading on Friday, reaching $122.62. The stock had a trading volume of 165,847 shares, compared to its average volume of 796,471. The stock's 50 day simple moving average is $125.77 and its two-hundred day simple moving average is $123.71. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $137.60. The company has a market capitalization of $23.60 billion, a price-to-earnings ratio of -38.80, a price-to-earnings-growth ratio of 20.72 and a beta of 0.75.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. The company's quarterly revenue was down 10.9% compared to the same quarter last year. Sell-side analysts anticipate that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, December 5th. Franco-Nevada's dividend payout ratio (DPR) is -45.57%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FNV. TD Securities upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. HC Wainwright upped their price objective on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Finally, StockNews.com raised Franco-Nevada from a "sell" rating to a "hold" rating in a research report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.83.

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.