Desjardins Global Asset Management Inc. Takes $2.52 Million Position in Franco-Nevada Co. (NYSE:FNV)

Desjardins Global Asset Management Inc. acquired a new position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 22,782 shares of the basic materials company’s stock, valued at approximately $2,524,000.

Several other hedge funds have also modified their holdings of FNV. BlackRock Inc. raised its holdings in shares of Franco-Nevada by 3.3% during the 1st quarter. BlackRock Inc. now owns 386,741 shares of the basic materials company’s stock worth $61,693,000 after acquiring an additional 12,446 shares in the last quarter. Raymond James Trust N.A. grew its position in Franco-Nevada by 10.2% in the 1st quarter. Raymond James Trust N.A. now owns 1,995 shares of the basic materials company’s stock valued at $318,000 after acquiring an additional 184 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Franco-Nevada by 23.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 69,166 shares of the basic materials company’s stock valued at $11,035,000 after acquiring an additional 12,993 shares during the last quarter. Aviva PLC grew its position in Franco-Nevada by 5.8% in the 1st quarter. Aviva PLC now owns 62,996 shares of the basic materials company’s stock valued at $10,040,000 after acquiring an additional 3,438 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Franco-Nevada by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 6,358,267 shares of the basic materials company’s stock valued at $1,014,271,000 after acquiring an additional 141,139 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Trading Up 1.2 %

Shares of NYSE FNV traded up $1.37 during mid-day trading on Tuesday, reaching $117.78. 426,307 shares of the company were exchanged, compared to its average volume of 740,703. Franco-Nevada Co. has a 1 year low of $102.29 and a 1 year high of $161.25. The firm has a 50-day moving average of $113.15 and a 200 day moving average of $116.28.

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

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a yield of 1.22%. Franco-Nevada’s dividend payout ratio (DPR) is -55.97%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FNV. Bank of America dropped their price target 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. Scotiabank dropped their price target on Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 7th. TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Raymond James increased their price target on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Finally, Jefferies Financial Group began coverage on Franco-Nevada in a research report on Thursday, February 29th. They set a “hold” rating and a $117.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Franco-Nevada presently has an average rating of “Hold” and an average price target of $147.30.

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.