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

Intact Investment Management Inc. boosted its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 155.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 110,890 shares of the basic materials company's stock after buying an additional 67,440 shares during the period. Intact Investment Management Inc. owned approximately 0.06% of Franco-Nevada worth $13,029,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FNV. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Franco-Nevada by 76.5% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company's stock valued at $159,530,000 after acquiring an additional 556,894 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company's stock worth $411,003,000 after purchasing an additional 537,047 shares during the period. Proficio Capital Partners LLC grew its holdings in Franco-Nevada by 11,659.0% during the 4th quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company's stock valued at $56,762,000 after purchasing an additional 478,602 shares during the last quarter. Bennbridge Ltd purchased a new stake in Franco-Nevada in the 4th quarter worth about $45,877,000. Finally, Two Sigma Advisers LP lifted its stake in Franco-Nevada by 60.1% in the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company's stock worth $119,069,000 after purchasing an additional 359,900 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

FNV has been the topic of a number of analyst reports. Royal Bank of Canada upped their target price on Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. Raymond James upped their price objective on Franco-Nevada from $160.00 to $162.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. HC Wainwright lifted their target price on Franco-Nevada from $155.00 to $165.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. UBS Group boosted their target price on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. Finally, StockNews.com raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $153.63.

Franco-Nevada Stock Performance

Franco-Nevada stock traded up $0.23 during midday trading on Tuesday, hitting $154.31. 701,565 shares of the company's stock were exchanged, compared to its average volume of 618,989. The company has a market cap of $29.71 billion, a PE ratio of -48.83, a P/E/G ratio of 9.78 and a beta of 0.73. The firm has a 50-day moving average of $137.34 and a two-hundred day moving average of $128.39. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $157.64.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. The firm had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. As a group, equities analysts expect that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.99%. Franco-Nevada's dividend payout ratio (DPR) is currently 53.15%.

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.