Mufg Securities Canada LTD. Purchases 123,184 Shares of Franco-Nevada Co. (NYSE:FNV)

Mufg Securities Canada LTD. increased its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 72.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 293,943 shares of the basic materials company’s stock after acquiring an additional 123,184 shares during the quarter. Franco-Nevada comprises about 1.2% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 20th biggest position. Mufg Securities Canada LTD.’s holdings in Franco-Nevada were worth $34,519,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Laurel Wealth Advisors LLC bought a new stake in Franco-Nevada during the 4th quarter valued at approximately $47,000. Point72 DIFC Ltd acquired a new position in Franco-Nevada during the 3rd quarter valued at $52,000. Erste Asset Management GmbH bought a new stake in Franco-Nevada in the 3rd quarter valued at $55,000. Harbour Investments Inc. grew its position in Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 93 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Franco-Nevada during the fourth quarter valued at about $73,000. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $155.74 on Wednesday. The company has a 50 day moving average price of $140.84 and a two-hundred day moving average price of $129.88. The company has a market capitalization of $29.99 billion, a PE ratio of -49.28, a PEG ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $158.52.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. During the same quarter last year, the business posted $0.90 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 0.98%. Franco-Nevada’s payout ratio is currently 53.15%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. HC Wainwright upped their target price on Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. UBS Group raised their target price on Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Raymond James upped their price target on Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Royal Bank of Canada boosted their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Finally, StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus target price of $153.63.

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.