Desjardins Global Asset Management Inc. Makes New Investment in Franco-Nevada Co. (NYSE:FNV)

Desjardins Global Asset Management Inc. bought a new position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 22,782 shares of the basic materials company’s stock, valued at approximately $2,524,000.

A number of other institutional investors also recently modified their holdings of the stock. Mackenzie Financial Corp raised its stake in shares of Franco-Nevada by 15.6% during the fourth quarter. Mackenzie Financial Corp now owns 1,472,264 shares of the basic materials company’s stock worth $163,156,000 after buying an additional 198,144 shares during the last quarter. Sapient Capital LLC bought a new stake in shares of Franco-Nevada during the fourth quarter worth approximately $1,674,000. Blossom Wealth Management raised its stake in shares of Franco-Nevada by 5.0% during the fourth quarter. Blossom Wealth Management now owns 2,535 shares of the basic materials company’s stock worth $281,000 after buying an additional 120 shares during the last quarter. Tobam raised its stake in shares of Franco-Nevada by 34.3% during the fourth quarter. Tobam now owns 2,391 shares of the basic materials company’s stock worth $266,000 after buying an additional 611 shares during the last quarter. Finally, Fortune Financial Advisors LLC raised its stake in shares of Franco-Nevada by 8.7% during the fourth quarter. Fortune Financial Advisors LLC now owns 4,873 shares of the basic materials company’s stock worth $540,000 after buying an additional 390 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Performance

Shares of FNV stock traded up $1.37 during trading on Tuesday, reaching $117.78. The company’s stock had a trading volume of 426,307 shares, compared to its average volume of 740,703. The business has a fifty day moving average price of $113.15 and a 200-day moving average price of $116.28. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The business had revenue of $303.30 million for the quarter. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. Equities research analysts expect that Franco-Nevada Co. will post 2.75 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.36 per share. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 1.22%. The ex-dividend date was Wednesday, March 13th. Franco-Nevada’s dividend payout ratio is -55.97%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Scotiabank decreased their price objective on shares of Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating for the company in a report on Thursday, March 7th. Jefferies Financial Group assumed coverage on shares of Franco-Nevada in a report on Thursday, February 29th. They set a “hold” rating and a $117.00 price objective for the company. TheStreet cut shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Raymond James boosted their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Finally, Bank of America decreased their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $147.30.

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.