Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Franco-Nevada Co. (NYSE:FNV)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 50.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 183,135 shares of the basic materials company’s stock after purchasing an additional 61,354 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.10% of Franco-Nevada worth $20,384,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Desjardins Global Asset Management Inc. bought a new position in shares of Franco-Nevada during the 4th quarter worth $2,524,000. Mackenzie Financial Corp raised its stake in Franco-Nevada by 15.6% in the fourth quarter. Mackenzie Financial Corp now owns 1,472,264 shares of the basic materials company’s stock valued at $163,156,000 after buying an additional 198,144 shares during the last quarter. Sapient Capital LLC purchased a new stake in Franco-Nevada in the fourth quarter valued at about $1,674,000. Blossom Wealth Management raised its stake in shares of Franco-Nevada by 5.0% in the fourth quarter. Blossom Wealth Management now owns 2,535 shares of the basic materials company’s stock worth $281,000 after purchasing an additional 120 shares during the last quarter. Finally, Tobam raised its stake in shares of Franco-Nevada by 34.3% in the fourth quarter. Tobam now owns 2,391 shares of the basic materials company’s stock worth $266,000 after purchasing an additional 611 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

FNV has been the subject of several recent research reports. TheStreet cut 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 note on Thursday, February 29th. They issued a “hold” rating and a $117.00 price target on the stock. Raymond James lifted their price target on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Scotiabank lowered their price objective on Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 7th. Finally, Bank of America reduced their target price on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $147.30.

Franco-Nevada Trading Up 2.9 %

FNV stock opened at $120.49 on Thursday. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $161.25. The business’s fifty day moving average price is $113.60 and its 200 day moving average price is $116.20.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. The firm had revenue of $303.30 million for the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. As a group, equities analysts anticipate that Franco-Nevada Co. will post 2.76 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Wednesday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s payout ratio is currently -55.97%.

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.