Zurcher Kantonalbank Zurich Cantonalbank Acquires 61,354 Shares of Franco-Nevada Co. (NYSE:FNV)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 50.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 183,135 shares of the basic materials company’s stock after purchasing an additional 61,354 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Franco-Nevada were worth $20,384,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FNV. Norges Bank acquired a new position in shares of Franco-Nevada during the 4th quarter worth about $219,378,000. Bank of America Corp DE increased its stake in shares of Franco-Nevada by 69.9% during the 1st quarter. Bank of America Corp DE now owns 2,679,436 shares of the basic materials company’s stock worth $390,662,000 after purchasing an additional 1,102,710 shares during the last quarter. Quadrature Capital Ltd increased its stake in shares of Franco-Nevada by 119.3% during the 3rd quarter. Quadrature Capital Ltd now owns 581,900 shares of the basic materials company’s stock worth $78,184,000 after purchasing an additional 316,600 shares during the last quarter. Montrusco Bolton Investments Inc. increased its stake in shares of Franco-Nevada by 270.4% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 405,712 shares of the basic materials company’s stock worth $54,414,000 after purchasing an additional 296,169 shares during the last quarter. Finally, Triasima Portfolio Management inc. acquired a new position in shares of Franco-Nevada during the 4th quarter worth about $33,842,000. 77.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FNV. Jefferies Financial Group assumed coverage on shares of Franco-Nevada in a research note on Thursday, February 29th. They set a “hold” rating and a $117.00 price objective on the stock. Scotiabank decreased their price target on shares of Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 7th. Raymond James upped their price target on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. TheStreet lowered shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Finally, Bank of America decreased their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $147.30.

Franco-Nevada Price Performance

NYSE FNV opened at $120.49 on Thursday. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $161.25. The firm has a 50-day moving average price of $113.60 and a two-hundred day moving average price of $116.20.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The company had revenue of $303.30 million during the quarter. On average, research analysts predict that Franco-Nevada Co. will post 2.76 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.36 dividend. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.20%. Franco-Nevada’s dividend payout ratio is presently -55.97%.

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.