Intact Investment Management Inc. Has $42.74 Million Holdings in Franco-Nevada Corporation $FNV

Key Points

• Intact Investment Management raised its stake in Franco‑Nevada by 83.9% in Q4 to 206,208 shares worth $42.74 million, representing about 0.11% of the company and roughly 1.2% of Intact’s portfolio (its 22nd largest holding).
• Franco‑Nevada posted strong quarterly results, with $1.85 EPS beating estimates and $597.3M revenue (up 86.1% year‑over‑year) along with a 61.0% net margin; analysts collectively rate the stock a “Moderate Buy” with an average target of $257.25.
• Institutional ownership is high at 77.06%, and several large funds (Mackenzie, First Eagle, BMO, Vanguard, Allianz) have materially increased positions, underscoring continued institutional interest in the royalty/streaming miner.

Intact Investment Management Inc. raised its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 83.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,208 shares of the basic materials company's stock after buying an additional 94,088 shares during the period. Franco-Nevada accounts for about 1.2% of Intact Investment Management Inc.'s investment portfolio, making the stock its 22nd biggest position. Intact Investment Management Inc. owned 0.11% of Franco-Nevada worth $42,742,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its stake in shares of Franco-Nevada by 76.0% in the third quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company's stock worth $525,925,000 after acquiring an additional 1,020,509 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of Franco-Nevada by 26.4% in the third quarter. First Eagle Investment Management LLC now owns 4,049,187 shares of the basic materials company's stock worth $901,092,000 after acquiring an additional 846,950 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Franco-Nevada by 8.9% in the third quarter. Bank of Montreal Can now owns 5,560,980 shares of the basic materials company's stock worth $1,237,510,000 after acquiring an additional 454,175 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Franco-Nevada by 51.4% in the third quarter. Allianz Asset Management GmbH now owns 385,898 shares of the basic materials company's stock worth $85,913,000 after acquiring an additional 130,987 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Franco-Nevada by 1.6% in the third quarter. Vanguard Group Inc. now owns 8,216,318 shares of the basic materials company's stock worth $1,828,821,000 after acquiring an additional 129,898 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

FNV opened at $226.09 on Monday. The company has a market cap of $43.60 billion, a price-to-earnings ratio of 39.25, a price-to-earnings-growth ratio of 2.18 and a beta of 0.35. The firm has a 50 day simple moving average of $252.85 and a 200 day simple moving average of $229.51. Franco-Nevada Corporation has a fifty-two week low of $152.89 and a fifty-two week high of $285.67.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.67 by $0.18. The business had revenue of $597.30 million during the quarter, compared to the consensus estimate of $542.02 million. Franco-Nevada had a net margin of 61.01% and a return on equity of 15.62%. Franco-Nevada's revenue for the quarter was up 86.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 earnings per share. As a group, analysts expect that Franco-Nevada Corporation will post 7.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Wednesday, April 29th. UBS Group reaffirmed a "buy" rating and issued a $310.00 target price on shares of Franco-Nevada in a research note on Friday, January 30th. Scotiabank boosted their target price on shares of Franco-Nevada from $283.00 to $286.00 and gave the stock a "sector perform" rating in a research note on Monday, March 16th. Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Sunday, April 26th. Finally, HC Wainwright boosted their target price on shares of Franco-Nevada from $285.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, March 12th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $257.25.

Franco-Nevada Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company's business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.