Squarepoint Ops LLC Reduces Stock Position in Franco-Nevada Co. (NYSE:FNV)

Squarepoint Ops LLC trimmed its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 59.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,846 shares of the basic materials company's stock after selling 5,735 shares during the quarter. Squarepoint Ops LLC's holdings in Franco-Nevada were worth $452,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Essex Financial Services Inc. grew its position in Franco-Nevada by 2.2% during the fourth quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company's stock worth $458,000 after buying an additional 84 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after acquiring an additional 93 shares during the last quarter. CoreCommodity Management LLC boosted its position in shares of Franco-Nevada by 2.9% during the 4th quarter. CoreCommodity Management LLC now owns 3,869 shares of the basic materials company's stock valued at $455,000 after acquiring an additional 108 shares during the last quarter. Quadcap Wealth Management LLC grew its holdings in shares of Franco-Nevada by 4.0% during the fourth quarter. Quadcap Wealth Management LLC now owns 3,184 shares of the basic materials company's stock worth $374,000 after purchasing an additional 121 shares in the last quarter. Finally, Jones Financial Companies Lllp increased 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 worth $73,000 after purchasing an additional 126 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Down 3.1%

Shares of FNV traded down $5.35 during trading hours on Friday, hitting $167.14. The company had a trading volume of 1,104,744 shares, compared to its average volume of 733,781. Franco-Nevada Co. has a 52-week low of $112.70 and a 52-week high of $179.99. The stock's 50 day moving average price is $164.63 and its 200 day moving average price is $143.92. The firm has a market cap of $32.18 billion, a P/E ratio of -52.89, a P/E/G ratio of 9.78 and a beta of 0.42.

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

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada's payout ratio is 47.50%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FNV. BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Raymond James set a $186.00 price objective on shares of Franco-Nevada and gave the stock an "outperform" rating in a report on Wednesday, May 28th. National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a research report on Wednesday, April 23rd. Scotiabank raised their price target on Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Finally, Wall Street Zen raised Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $169.63.

About Franco-Nevada

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.