Franco-Nevada Corporation $FNV Position Trimmed by Intech Investment Management LLC

Intech Investment Management LLC decreased its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 73.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,864 shares of the basic materials company’s stock after selling 27,617 shares during the period. Intech Investment Management LLC’s holdings in Franco-Nevada were worth $2,047,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FNV. GAMMA Investing LLC increased its stake in Franco-Nevada by 112.3% during the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 64 shares during the last quarter. Burkett Financial Services LLC bought a new stake in Franco-Nevada during the third quarter valued at $28,000. Private Trust Co. NA bought a new stake in Franco-Nevada during the fourth quarter valued at $29,000. Smartleaf Asset Management LLC grew its position in shares of Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 168 shares during the last quarter. Finally, Navalign LLC bought a new position in Franco-Nevada in the 4th quarter valued at about $34,000. Institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

FNV has been the subject of a number of analyst reports. National Bank Financial raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday. HC Wainwright reissued a “buy” rating and set a $305.00 price objective on shares of Franco-Nevada in a report on Wednesday, May 13th. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective for the company in a research report on Wednesday, May 20th. Finally, TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and reduced their price target for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $271.00.

Franco-Nevada Stock Performance

FNV opened at $229.31 on Thursday. The firm has a market cap of $44.23 billion, a P/E ratio of 32.30, a price-to-earnings-growth ratio of 2.05 and a beta of 0.34. Franco-Nevada Corporation has a 52-week low of $152.89 and a 52-week high of $285.67. The business’s fifty day moving average is $239.98 and its 200-day moving average is $235.11.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.29. The company had revenue of $650.70 million for the quarter, compared to analyst estimates of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.Franco-Nevada’s quarterly revenue was up 76.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 EPS. On average, research analysts predict that Franco-Nevada Corporation will post 8.85 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 11th. Franco-Nevada’s dividend payout ratio is 24.79%.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.