Franco-Nevada Corporation $FNV Holdings Boosted by Intact Investment Management Inc.

Intact Investment Management Inc. grew its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 101.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,140 shares of the basic materials company’s stock after purchasing an additional 19,670 shares during the period. Intact Investment Management Inc.’s holdings in Franco-Nevada were worth $6,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in Franco-Nevada during the second quarter valued at $460,218,000. Arrowstreet Capital Limited Partnership boosted its position in Franco-Nevada by 35.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock worth $528,289,000 after acquiring an additional 838,853 shares during the period. Picton Mahoney Asset Management purchased a new position in Franco-Nevada during the 2nd quarter valued at about $80,621,000. Scharf Investments LLC purchased a new position in Franco-Nevada during the 2nd quarter valued at about $78,509,000. Finally, Invesco Ltd. increased its holdings in shares of Franco-Nevada by 110.6% in the 2nd quarter. Invesco Ltd. now owns 902,017 shares of the basic materials company’s stock valued at $147,859,000 after purchasing an additional 473,697 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of FNV opened at $202.73 on Wednesday. Franco-Nevada Corporation has a 52 week low of $114.81 and a 52 week high of $225.63. The firm has a market capitalization of $39.08 billion, a P/E ratio of 42.50, a P/E/G ratio of 1.54 and a beta of 0.46. The company has a 50-day simple moving average of $200.21 and a 200-day simple moving average of $185.06.

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

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, December 4th. Franco-Nevada’s payout ratio is 31.87%.

Analyst Upgrades and Downgrades

FNV has been the subject of several research reports. UBS Group raised their price target on shares of Franco-Nevada from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, December 1st. HC Wainwright boosted their price target on shares of Franco-Nevada from $200.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Franco-Nevada in a report on Monday. Scotiabank lifted their price objective on Franco-Nevada from $184.00 to $225.00 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and an average price target of $232.75.

Franco-Nevada Company 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.