Intech Investment Management LLC Sells 161 Shares of Franco-Nevada Co. (NYSE:FNV)

Intech Investment Management LLC lowered its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,254 shares of the basic materials company’s stock after selling 161 shares during the quarter. Intech Investment Management LLC’s holdings in Franco-Nevada were worth $500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Franco-Nevada by 76.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock worth $159,530,000 after buying an additional 556,894 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in Franco-Nevada by 19.4% in the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after acquiring an additional 537,047 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in Franco-Nevada by 11,659.0% in the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company’s stock worth $56,762,000 after purchasing an additional 478,602 shares during the last quarter. Bennbridge Ltd acquired a new position in shares of Franco-Nevada during the fourth quarter worth $45,877,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of Franco-Nevada by 60.1% during the 3rd quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock valued at $119,069,000 after purchasing an additional 359,900 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

FNV has been the topic of several research analyst reports. Raymond James boosted their target price on Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Scotiabank upped their price objective on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Tuesday, March 11th. StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. HC Wainwright upped their price target on shares of Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Finally, UBS Group lifted their price objective on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and an average target price of $153.63.

Franco-Nevada Stock Down 0.0 %

Shares of FNV stock opened at $155.76 on Tuesday. Franco-Nevada Co. has a 52-week low of $112.70 and a 52-week high of $157.71. The stock has a market cap of $29.99 billion, a PE ratio of -49.29, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. The business has a 50-day simple moving average of $140.26 and a 200-day simple moving average of $129.61.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results 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 company had revenue of $321.00 million during the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. Franco-Nevada’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. Sell-side analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.98%. The ex-dividend date is Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. 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.