Intact Investment Management Inc. Grows Holdings in Franco-Nevada Corporation $FNV

Intact Investment Management Inc. lifted its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 186.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,120 shares of the basic materials company’s stock after buying an additional 72,980 shares during the quarter. Intact Investment Management Inc. owned approximately 0.06% of Franco-Nevada worth $24,959,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new position in Franco-Nevada during the 1st quarter worth $241,000. NewEdge Advisors LLC raised its stake in shares of Franco-Nevada by 16.7% in the 1st quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock valued at $1,038,000 after purchasing an additional 943 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Franco-Nevada by 118.3% during the first quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock worth $1,460,000 after purchasing an additional 5,032 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Franco-Nevada by 800.0% during the first quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock worth $424,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Voya Investment Management LLC acquired a new position in Franco-Nevada in the first quarter worth about $249,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Trading Down 0.8%

Shares of NYSE FNV opened at $256.18 on Monday. Franco-Nevada Corporation has a 12-month low of $127.20 and a 12-month high of $261.70. The company has a market cap of $49.39 billion, a price-to-earnings ratio of 53.71, a price-to-earnings-growth ratio of 1.44 and a beta of 0.48. The stock’s 50 day simple moving average is $215.55 and its 200 day simple moving average is $198.04.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.06. The firm had revenue of $487.70 million for the quarter, compared to analyst estimates of $448.51 million. Franco-Nevada had a return on equity of 13.94% and a net margin of 59.48%.The firm’s revenue for the quarter was up 76.9% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. As a group, equities analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, December 4th. Franco-Nevada’s dividend payout ratio (DPR) is 31.87%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FNV. Bank of America upped their price objective on Franco-Nevada from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. UBS Group boosted their price target on Franco-Nevada from $260.00 to $270.00 and gave the company a “buy” rating in a report on Monday, December 1st. Royal Bank Of Canada upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $225.00 to $250.00 in a research note on Wednesday, December 10th. Zacks Research downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $228.00 target price on shares of Franco-Nevada in a research note on Sunday, December 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Franco-Nevada has an average rating of “Moderate Buy” and a consensus price target of $232.75.

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.