Intact Investment Management Inc. Sells 49,160 Shares of Franco-Nevada Co. (NYSE:FNV)

Intact Investment Management Inc. lowered its holdings in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 53.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,450 shares of the basic materials company's stock after selling 49,160 shares during the period. Intact Investment Management Inc.'s holdings in Franco-Nevada were worth $5,397,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FNV. Mechanics Financial Corp boosted its stake in Franco-Nevada by 150.0% in the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company's stock worth $30,000 after purchasing an additional 150 shares during the period. Mather Group LLC. purchased a new stake in Franco-Nevada in the 2nd quarter worth approximately $33,000. Kings Path Partners LLC bought a new position in Franco-Nevada in the 2nd quarter valued at $36,000. Sunbelt Securities Inc. increased its position in shares of Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company's stock worth $49,000 after purchasing an additional 400 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in Franco-Nevada by 33.3% during the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company's stock worth $52,000 after purchasing an additional 110 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Price Performance

NYSE:FNV traded up $1.82 during trading hours on Tuesday, hitting $133.83. The company had a trading volume of 752,926 shares, compared to its average volume of 650,299. The stock has a 50-day moving average price of $126.19 and a 200 day moving average price of $123.94. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60. The company has a market capitalization of $25.76 billion, a PE ratio of -43.42, a price-to-earnings-growth ratio of 22.03 and a beta of 0.75.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly 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). The firm had revenue of $260.10 million during the quarter, compared to analysts' expectations of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. Franco-Nevada's revenue for the quarter was down 21.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share. Analysts anticipate that Franco-Nevada Co. will post 3.25 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, September 12th. Franco-Nevada's dividend payout ratio is -47.37%.

Analysts Set New Price Targets

FNV has been the topic of a number of analyst reports. Jefferies Financial Group decreased their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a "hold" rating on the stock in a research report on Thursday, October 17th. StockNews.com raised Franco-Nevada from a "sell" rating to a "hold" rating in a research note on Thursday, August 22nd. Bank of America lowered Franco-Nevada from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. TD Securities upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. Finally, TD Cowen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $154.57.

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.