D. E. Shaw & Co. Inc. Grows Position in Franco-Nevada Co. (NYSE:FNV)

D. E. Shaw & Co. Inc. boosted its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 56.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 125,286 shares of the basic materials company’s stock after buying an additional 44,958 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.07% of Franco-Nevada worth $14,725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of FNV. Essex Financial Services Inc. raised its holdings in shares of 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 valued at $458,000 after purchasing an additional 84 shares during the last quarter. Harbour Investments Inc. raised its stake in 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 buying an additional 93 shares during the last quarter. Mutual Advisors LLC raised its stake in Franco-Nevada by 4.0% during the 4th quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock valued at $309,000 after buying an additional 96 shares during the last quarter. Sustainable Insight Capital Management LLC lifted its holdings in shares of Franco-Nevada by 2.7% during the 4th quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock valued at $441,000 after buying an additional 100 shares during the period. Finally, Blossom Wealth Management boosted its stake in shares of Franco-Nevada by 3.9% in the 4th quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock worth $335,000 after buying an additional 108 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Raymond James upped their price objective on Franco-Nevada from $162.00 to $181.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. 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. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, April 7th. National Bankshares restated a “sector perform” rating on shares of Franco-Nevada in a research report on Wednesday, April 23rd. Finally, Scotiabank increased their price target on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.75.

Franco-Nevada Trading Down 0.6%

Shares of FNV opened at $157.77 on Wednesday. The business’s 50 day moving average is $159.57 and its 200 day moving average is $139.16. The company has a market capitalization of $30.38 billion, a PE ratio of -49.93, 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) (TSE:FNV) last announced its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. The business had revenue of $368.40 million during the quarter, compared to analyst estimates of $328.79 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company’s revenue was up 43.5% on a year-over-year basis. During the same period last year, the firm posted $0.76 EPS. Equities research analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be issued a $0.38 dividend. The ex-dividend date is Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 0.96%. 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.