Intact Investment Management Inc. Has $3.06 Million Stock Position in Franco-Nevada Corporation (NYSE:FNV)

Intact Investment Management Inc. reduced its holdings in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 82.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,470 shares of the basic materials company's stock after selling 91,420 shares during the period. Intact Investment Management Inc.'s holdings in Franco-Nevada were worth $3,063,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of FNV. Confluence Investment Management LLC increased its stake in Franco-Nevada by 1.5% in the 1st quarter. Confluence Investment Management LLC now owns 5,874 shares of the basic materials company's stock valued at $926,000 after buying an additional 84 shares during the period. Harbour Investments Inc. lifted its stake in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after acquiring an additional 93 shares during the last quarter. CoreCommodity Management LLC grew its position in Franco-Nevada by 2.9% in the fourth quarter. CoreCommodity Management LLC now owns 3,869 shares of the basic materials company's stock worth $455,000 after acquiring an additional 108 shares in the last quarter. Quadcap Wealth Management LLC increased its stake in shares of Franco-Nevada by 4.0% during the 4th quarter. Quadcap Wealth Management LLC now owns 3,184 shares of the basic materials company's stock worth $374,000 after purchasing an additional 121 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Franco-Nevada by 25.6% in the 4th quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock valued at $73,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on FNV shares. Scotiabank raised their target price on Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Raymond James Financial set a $186.00 price objective on Franco-Nevada and gave the company an "outperform" rating in a research note on Wednesday, May 28th. UBS Group increased their price target on Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 11th. Royal Bank Of Canada boosted their price objective on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a report on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $169.63.

Franco-Nevada Stock Performance

Shares of FNV stock traded down $2.04 during mid-day trading on Wednesday, reaching $163.16. The company's stock had a trading volume of 840,034 shares, compared to its average volume of 741,758. The firm's 50-day moving average is $167.77 and its two-hundred day moving average is $148.27. The company has a market cap of $31.43 billion, a P/E ratio of 50.99, a PEG ratio of 2.30 and a beta of 0.42. Franco-Nevada Corporation has a 1-year low of $112.70 and a 1-year high of $179.99.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $368.40 million during the quarter, compared to analyst estimates of $328.79 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The company's quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share. Sell-side analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.93%. Franco-Nevada's dividend payout ratio (DPR) is presently 47.50%.

Franco-Nevada Company 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.