TD Asset Management Inc Has $452.10 Million Holdings in Franco-Nevada Corporation $FNV

TD Asset Management Inc increased its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 0.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,030,684 shares of the basic materials company’s stock after purchasing an additional 18,897 shares during the period. TD Asset Management Inc’s holdings in Franco-Nevada were worth $452,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MTM Investment Management LLC acquired a new position in shares of Franco-Nevada in the second quarter worth approximately $32,000. Smartleaf Asset Management LLC increased its position in Franco-Nevada by 600.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares during the period. Golden State Wealth Management LLC raised its holdings in Franco-Nevada by 78.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 90 shares during the last quarter. CENTRAL TRUST Co raised its holdings in Franco-Nevada by 590.9% during the 2nd quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 195 shares during the last quarter. Finally, City Holding Co. acquired a new position in shares of Franco-Nevada in the 3rd quarter worth approximately $56,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Trading Up 1.0%

Shares of NYSE FNV opened at $273.60 on Wednesday. The firm has a market capitalization of $52.75 billion, a P/E ratio of 57.36, a P/E/G ratio of 1.35 and a beta of 0.47. The firm’s 50-day moving average price is $236.51 and its 200-day moving average price is $211.87. Franco-Nevada Corporation has a 1-year low of $137.05 and a 1-year high of $275.56.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued a $0.44 dividend. The ex-dividend date is Thursday, March 12th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 annualized dividend and a yield of 0.6%. Franco-Nevada’s dividend payout ratio is currently 31.87%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FNV shares. Wall Street Zen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Zacks Research lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. UBS Group reiterated a “buy” rating and set a $310.00 price target on shares of Franco-Nevada in a report on Friday, January 30th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Finally, HC Wainwright raised their target price on Franco-Nevada from $210.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $254.38.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.