Intact Investment Management Inc. Increases Position in Franco-Nevada Co. (NYSE:FNV)

Intact Investment Management Inc. lifted its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 191.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 106,910 shares of the basic materials company’s stock after purchasing an additional 70,180 shares during the period. Intact Investment Management Inc. owned 0.06% of Franco-Nevada worth $11,842,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FNV. CWM LLC boosted its holdings in shares of Franco-Nevada by 77.8% in the third quarter. CWM LLC now owns 786 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 344 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Franco-Nevada by 2.3% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 22,839 shares of the basic materials company’s stock valued at $3,049,000 after purchasing an additional 518 shares during the period. Veritas Asset Management LLP boosted its holdings in shares of Franco-Nevada by 0.9% in the third quarter. Veritas Asset Management LLP now owns 104,118 shares of the basic materials company’s stock valued at $13,899,000 after purchasing an additional 956 shares during the period. Bfsg LLC boosted its holdings in shares of Franco-Nevada by 2.6% in the third quarter. Bfsg LLC now owns 72,263 shares of the basic materials company’s stock valued at $9,646,000 after purchasing an additional 1,860 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Franco-Nevada by 1.4% in the third quarter. Commonwealth Equity Services LLC now owns 115,194 shares of the basic materials company’s stock valued at $15,377,000 after purchasing an additional 1,611 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

FNV has been the subject of a number of recent research reports. Scotiabank boosted their price objective on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 18th. Raymond James boosted their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Bank of America reduced their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Jefferies Financial Group boosted their price objective on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Finally, TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $148.60.

Franco-Nevada Stock Up 1.1 %

Shares of FNV traded up $1.37 during trading hours on Friday, reaching $122.93. 527,685 shares of the company traded hands, compared to its average volume of 665,152. The stock has a market capitalization of $23.64 billion, a P/E ratio of -50.59, a P/E/G ratio of 6.20 and a beta of 0.71. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $161.25. The business has a fifty day moving average price of $115.03 and a 200-day moving average price of $115.87.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The firm 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%. As a group, research analysts predict that Franco-Nevada Co. will post 2.97 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.36 per share. The ex-dividend date was Wednesday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. Franco-Nevada’s payout ratio is -55.97%.

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.