Two Sigma Advisers LP Buys 391,000 Shares of Franco-Nevada Co. (NYSE:FNV)

Two Sigma Advisers LP grew its holdings in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 40.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,349,300 shares of the basic materials company's stock after purchasing an additional 391,000 shares during the quarter. Two Sigma Advisers LP owned approximately 0.70% of Franco-Nevada worth $158,664,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Physician Wealth Advisors Inc. bought a new position in Franco-Nevada during the 4th quarter worth approximately $49,000. Harbour Investments Inc. raised its holdings in shares of Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 93 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Franco-Nevada by 538.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 607 shares of the basic materials company's stock worth $71,000 after buying an additional 512 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Franco-Nevada during the fourth quarter worth $73,000. Finally, Jones Financial Companies Lllp increased its holdings in Franco-Nevada by 25.6% during the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock worth $73,000 after buying an additional 126 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on FNV. Royal Bank of Canada raised their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. HC Wainwright lifted their price target on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, March 26th. Raymond James boosted their target price on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. UBS Group boosted their target price on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, BMO Capital Markets began coverage on shares of Franco-Nevada in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $162.75.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock traded down $1.66 during trading on Thursday, reaching $164.01. 554,783 shares of the company traded hands, compared to its average volume of 725,995. Franco-Nevada Co. has a 1-year low of $112.70 and a 1-year high of $178.74. The company has a 50 day moving average price of $161.23 and a 200-day moving average price of $140.21. The firm has a market capitalization of $31.58 billion, a PE ratio of -51.90, a P/E/G ratio of 9.78 and a beta of 0.45.

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

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.52 annualized dividend and a yield of 0.93%. Franco-Nevada's payout ratio is currently 47.50%.

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.