Point72 Asset Management L.P. Increases Stake in Franco-Nevada Co. (NYSE:FNV)

Point72 Asset Management L.P. lifted its stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 114.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,806 shares of the basic materials company's stock after purchasing an additional 26,557 shares during the period. Point72 Asset Management L.P.'s holdings in Franco-Nevada were worth $5,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FNV. Physician Wealth Advisors Inc. acquired a new stake in shares of Franco-Nevada in the 4th quarter valued at about $49,000. Harbour Investments Inc. boosted its holdings in shares of Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after acquiring an additional 93 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Franco-Nevada by 538.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 607 shares of the basic materials company's stock valued at $71,000 after buying an additional 512 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Franco-Nevada in the fourth quarter valued at approximately $73,000. Finally, Jones Financial Companies Lllp raised its position in shares of Franco-Nevada by 25.6% in the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock valued at $73,000 after buying an additional 126 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on FNV shares. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a research report on Wednesday, April 23rd. UBS Group upped their price target on shares of Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. Scotiabank upped their target price on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Finally, HC Wainwright increased their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $162.75.

Franco-Nevada Stock Up 2.4%

FNV traded up $3.97 on Friday, hitting $168.00. The company's stock had a trading volume of 483,799 shares, compared to its average volume of 726,544. The company's 50 day simple moving average is $161.70 and its 200-day simple moving average is $140.83. The firm has a market cap of $32.35 billion, a P/E ratio of -53.17, a price-to-earnings-growth ratio of 9.78 and a beta of 0.45. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $178.74.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. The firm had revenue of $368.40 million during the quarter, compared to the consensus estimate of $328.79 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business's quarterly revenue was up 43.5% compared to the same quarter last year. During the same period last year, the firm earned $0.76 EPS. Equities analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, June 12th. Franco-Nevada's payout ratio is presently 47.50%.

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.