Franco-Nevada Corporation (NYSE:FNV) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. cut its stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 82.4% during the 1st quarter, according to its most recent filing with the SEC. 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 hedge funds and other institutional investors have also recently bought and sold shares of the stock. Confluence Investment Management LLC lifted its position in Franco-Nevada by 1.5% during the 1st quarter. Confluence Investment Management LLC now owns 5,874 shares of the basic materials company's stock worth $926,000 after acquiring an additional 84 shares in the last quarter. Harbour Investments Inc. lifted its position in Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after acquiring an additional 93 shares in the last quarter. CoreCommodity Management LLC lifted its position in Franco-Nevada by 2.9% during the 4th 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 lifted its position in 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 acquiring an additional 121 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Franco-Nevada by 25.6% during the 4th quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock worth $73,000 after purchasing an additional 126 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Royal Bank Of Canada lifted their price objective on Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. UBS Group lifted their price objective on Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Wall Street Zen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective on the stock. in a report on Tuesday, March 11th. Finally, HC Wainwright restated a "buy" rating and set a $195.00 price objective (up from $180.00) on shares of Franco-Nevada in a report on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $169.63.

Franco-Nevada Trading Down 1.3%

Shares of NYSE FNV opened at $165.98 on Friday. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $179.99. The company has a market capitalization of $31.98 billion, a price-to-earnings ratio of 51.87, a price-to-earnings-growth ratio of 2.34 and a beta of 0.42. The business has a 50 day simple moving average of $168.08 and a 200-day simple moving average of $147.55.

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

Franco-Nevada Dividend Announcement

The business also recently disclosed 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 is Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 0.92%. Franco-Nevada's dividend payout ratio is currently 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.

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