Intact Investment Management Inc. reduced its stake in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 86.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,900 shares of the basic materials company’s stock after selling 73,200 shares during the quarter. Intact Investment Management Inc.’s holdings in Franco Nevada were worth $1,593,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in FNV. Pacifica Partners Inc. purchased a new position in Franco Nevada during the 4th quarter worth approximately $46,000. Vigilant Capital Management LLC purchased a new position in Franco Nevada during the 4th quarter worth approximately $52,000. Atlas Private Wealth Management purchased a new position in Franco Nevada during the 4th quarter worth approximately $57,000. Parallel Advisors LLC raised its position in Franco Nevada by 12.1% during the 4th quarter. Parallel Advisors LLC now owns 973 shares of the basic materials company’s stock worth $101,000 after buying an additional 105 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in Franco Nevada during the 4th quarter worth approximately $104,000. 66.44% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE FNV traded up $2.58 during midday trading on Thursday, reaching $113.40. 109,709 shares of the stock were exchanged, compared to its average volume of 1,706,666. The firm has a 50-day simple moving average of $109.85 and a two-hundred day simple moving average of $101.41. Franco Nevada Corp has a twelve month low of $69.16 and a twelve month high of $122.65. The firm has a market cap of $21.05 billion, a price-to-earnings ratio of 61.97, a PEG ratio of 12.30 and a beta of 0.21. The company has a quick ratio of 5.22, a current ratio of 5.22 and a debt-to-equity ratio of 0.02.
Franco Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Monday, March 9th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.10. Franco Nevada had a net margin of 40.76% and a return on equity of 7.01%. The firm had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $237.03 million. During the same quarter last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 74.2% compared to the same quarter last year. Research analysts expect that Franco Nevada Corp will post 2.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 11th. This represents a $1.00 annualized dividend and a yield of 0.88%. Franco Nevada’s dividend payout ratio (DPR) is presently 54.95%.
A number of equities analysts have issued reports on FNV shares. Royal Bank of Canada reissued a “hold” rating and set a $110.00 price target on shares of Franco Nevada in a research report on Sunday, February 9th. TD Securities cut shares of Franco Nevada from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $125.00 to $120.00 in a research note on Tuesday, March 10th. Zacks Investment Research cut shares of Franco Nevada from a “buy” rating to a “hold” rating and set a $109.00 price objective on the stock. in a research note on Friday, January 3rd. Canaccord Genuity reaffirmed a “buy” rating and set a $156.00 price objective on shares of Franco Nevada in a research note on Tuesday, March 10th. Finally, Raymond James dropped their price objective on shares of Franco Nevada from $130.00 to $123.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 11th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $114.91.
About Franco Nevada
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
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