Franco-Nevada Co. (NYSE:FNV) Shares Bought by Intact Investment Management Inc.

Intact Investment Management Inc. raised its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 191.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 106,910 shares of the basic materials company’s stock after purchasing an additional 70,180 shares during the quarter. Intact Investment Management Inc.’s holdings in Franco-Nevada were worth $11,842,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of FNV. Quadrature Capital Ltd increased its stake in Franco-Nevada by 119.3% in the third quarter. Quadrature Capital Ltd now owns 581,900 shares of the basic materials company’s stock valued at $78,184,000 after purchasing an additional 316,600 shares during the period. Montrusco Bolton Investments Inc. boosted its holdings in shares of Franco-Nevada by 270.4% in the third quarter. Montrusco Bolton Investments Inc. now owns 405,712 shares of the basic materials company’s stock valued at $54,414,000 after acquiring an additional 296,169 shares in the last quarter. FMR LLC boosted its holdings in shares of Franco-Nevada by 1.3% in the third quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock valued at $2,211,558,000 after acquiring an additional 208,392 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Franco-Nevada by 8.3% in the third quarter. Victory Capital Management Inc. now owns 2,681,215 shares of the basic materials company’s stock valued at $357,915,000 after acquiring an additional 206,125 shares in the last quarter. Finally, Gabelli Funds LLC boosted its holdings in shares of Franco-Nevada by 75.5% in the third quarter. Gabelli Funds LLC now owns 472,460 shares of the basic materials company’s stock valued at $63,189,000 after acquiring an additional 203,300 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Scotiabank lifted their target price on shares of Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a report on Thursday, April 18th. Raymond James lifted their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Bank of America lowered their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Finally, Jefferies Financial Group boosted their price objective on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $148.60.

Franco-Nevada Stock Performance

FNV stock traded up $1.37 during trading on Friday, reaching $122.93. 527,685 shares of the company were exchanged, compared to its average volume of 665,152. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $161.25. The company has a market cap of $23.64 billion, a P/E ratio of -50.59, a PEG ratio of 6.20 and a beta of 0.71. The stock’s 50 day moving average price is $115.03 and its 200 day moving average price is $115.87.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The company had revenue of $303.30 million for the quarter. As a group, equities research analysts forecast that Franco-Nevada Co. will post 2.97 EPS for the current year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio is -55.97%.

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.