Two Sigma Advisers LP Grows Position in Franco-Nevada Co. (NYSE:FNV)

Two Sigma Advisers LP lifted its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 40.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 0.70% of Franco-Nevada worth $158,664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FNV. Physician Wealth Advisors Inc. purchased a new position in shares of Franco-Nevada during the fourth quarter valued at approximately $49,000. Harbour Investments Inc. lifted 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 valued at $53,000 after purchasing an additional 93 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of 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 valued at $71,000 after purchasing an additional 512 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Franco-Nevada during the fourth quarter valued at approximately $73,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Franco-Nevada by 25.6% during the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock valued at $73,000 after purchasing an additional 126 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on FNV. Royal Bank of Canada increased their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Scotiabank increased their price objective on shares of Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. TD Securities downgraded shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective on the stock. in a research report on Tuesday, March 11th. Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. Finally, BMO Capital Markets assumed coverage on shares of Franco-Nevada in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $162.75.

Franco-Nevada Trading Up 2.4%

FNV stock traded up $3.97 on Friday, hitting $168.00. The company had a trading volume of 483,799 shares, compared to its average volume of 725,214. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $178.74. The stock's 50-day simple moving average is $161.70 and its 200 day simple moving average is $140.67. The stock has a market cap of $32.35 billion, a price-to-earnings ratio of -53.17, a P/E/G ratio of 9.78 and a beta of 0.45.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its 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 negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $368.40 million for the quarter, compared to analysts' expectations of $328.79 million. During the same quarter last year, the company posted $0.76 earnings per share. The firm's quarterly revenue was up 43.5% on a year-over-year basis. Research analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

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