Intact Investment Management Inc. Decreases Stake in Franco Nevada Corp (NYSE:FNV)

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.

Read More: Bear Market – How and Why They Occur

Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco Nevada Corp (NYSE:FNV) (TSE:FNV).

Institutional Ownership by Quarter for Franco Nevada (NYSE:FNV)

Receive News & Ratings for Franco Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco Nevada and related companies with MarketBeat.com's FREE daily email newsletter.