Franco-Nevada Co. (NYSE:FNV) Shares Acquired by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH lifted its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 69.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,000 shares of the basic materials company’s stock after acquiring an additional 2,450 shares during the period. Trust Co. of Toledo NA OH’s holdings in Franco-Nevada were worth $706,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. M&G PLC raised its stake in shares of Franco-Nevada by 3.2% during the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock worth $208,645,000 after buying an additional 51,996 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Franco-Nevada by 3,404.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock worth $86,287,000 after buying an additional 706,919 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its stake in shares of Franco-Nevada by 1.9% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock worth $116,277,000 after buying an additional 17,232 shares during the last quarter. Telemark Asset Management LLC raised its stake in shares of Franco-Nevada by 66.7% during the 3rd quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock worth $6,212,000 after buying an additional 20,000 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after buying an additional 424,810 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Price Performance

FNV opened at $124.39 on Tuesday. The stock has a market capitalization of $23.94 billion, a price-to-earnings ratio of -39.36 and a beta of 0.72. The business has a 50-day moving average of $121.23 and a two-hundred day moving average of $123.63. Franco-Nevada Co. has a 12 month low of $103.64 and a 12 month high of $137.60.

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

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s payout ratio is currently -45.57%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FNV. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. UBS Group initiated coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 target price for the company. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and cut their target price for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. Finally, HC Wainwright cut their target price on shares of Franco-Nevada from $200.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.33.

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.