Intact Investment Management Inc. Cuts Position in Franco-Nevada Co. (NYSE:FNV)

Intact Investment Management Inc. lowered its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 42.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,610 shares of the basic materials company’s stock after selling 67,380 shares during the quarter. Intact Investment Management Inc.’s holdings in Franco-Nevada were worth $10,979,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FNV. International Assets Investment Management LLC purchased a new position in Franco-Nevada during the fourth quarter valued at $3,447,000. Russell Investments Group Ltd. raised its holdings in shares of Franco-Nevada by 7.1% during the fourth quarter. Russell Investments Group Ltd. now owns 124,688 shares of the basic materials company’s stock valued at $13,879,000 after acquiring an additional 8,311 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Franco-Nevada in the fourth quarter worth approximately $209,000. U.S. Capital Wealth Advisors LLC increased its position in shares of Franco-Nevada by 25.9% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 28,755 shares of the basic materials company’s stock worth $3,186,000 after purchasing an additional 5,916 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its stake in Franco-Nevada by 0.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 29,408 shares of the basic materials company’s stock valued at $3,259,000 after purchasing an additional 109 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FNV shares. HC Wainwright reaffirmed a “buy” rating and set a $185.00 target price on shares of Franco-Nevada in a report on Friday, August 16th. Bank of America boosted their target price on Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Jefferies Financial Group boosted their price objective on Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Finally, StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Franco-Nevada has an average rating of “Moderate Buy” and a consensus price target of $152.75.

Franco-Nevada Stock Down 0.2 %

Shares of Franco-Nevada stock opened at $122.15 on Friday. The business’s fifty day simple moving average is $123.26 and its 200-day simple moving average is $119.94. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $146.43.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The company had revenue of $260.10 million for the quarter, compared to analysts’ expectations of $277.44 million. During the same period last year, the business earned $0.95 EPS. The company’s quarterly revenue was down 21.2% compared to the same quarter last year. As a group, sell-side analysts expect that Franco-Nevada Co. will post 3.2 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Thursday, September 12th. Franco-Nevada’s payout ratio is -57.83%.

Franco-Nevada 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.