Two Sigma Investments LP Boosts Stake in Franco-Nevada Co. (NYSE:FNV)

Two Sigma Investments LP lifted its stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 15.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,029,460 shares of the basic materials company's stock after buying an additional 135,251 shares during the quarter. Two Sigma Investments LP owned approximately 0.53% of Franco-Nevada worth $121,054,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Tidal Investments LLC purchased a new position in Franco-Nevada during the 4th quarter valued at approximately $29,500,000. Point72 Asset Management L.P. grew its holdings in Franco-Nevada by 114.2% during the 4th quarter. Point72 Asset Management L.P. now owns 49,806 shares of the basic materials company's stock valued at $5,857,000 after buying an additional 26,557 shares in the last quarter. Quadcap Wealth Management LLC grew its holdings in Franco-Nevada by 4.0% during the 4th quarter. Quadcap Wealth Management LLC now owns 3,184 shares of the basic materials company's stock valued at $374,000 after buying an additional 121 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Franco-Nevada by 1.1% during the 4th quarter. Quantinno Capital Management LP now owns 23,483 shares of the basic materials company's stock valued at $2,761,000 after buying an additional 250 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Franco-Nevada by 21.5% during the 4th quarter. Janus Henderson Group PLC now owns 24,835 shares of the basic materials company's stock valued at $2,918,000 after buying an additional 4,400 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on FNV. TD Securities cut Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target for the company. in a report on Tuesday, March 11th. Royal Bank of Canada upped their target price 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. Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, April 7th. Scotiabank upped their target price 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. Finally, Raymond James upped their target price on shares of Franco-Nevada from $162.00 to $181.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Franco-Nevada presently has an average rating of "Moderate Buy" and a consensus price target of $162.75.

Franco-Nevada Stock Performance

Franco-Nevada stock traded up $3.97 during trading hours on Friday, hitting $168.00. The company had a trading volume of 483,799 shares, compared to its average volume of 725,214. The firm has a market cap of $32.35 billion, a P/E ratio of -53.17, a P/E/G ratio of 9.78 and a beta of 0.45. 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 $161.70 and a two-hundred day moving average price of $140.67.

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 (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.07. The company had revenue of $368.40 million during the quarter, compared to analysts' expectations of $328.79 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm's quarterly revenue was up 43.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. As a group, equities research analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.90%. Franco-Nevada's dividend payout ratio is currently 47.50%.

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.