Two Sigma Investments LP Grows Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Two Sigma Investments LP grew its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 15.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 0.53% of Franco-Nevada worth $121,054,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Van ECK Associates Corp grew its stake in Franco-Nevada by 2.3% during the fourth quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock worth $1,004,046,000 after buying an additional 193,968 shares during the period. Capital World Investors increased its stake in Franco-Nevada by 9.8% during the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock worth $934,106,000 after buying an additional 711,591 shares during the period. Vanguard Group Inc. lifted its holdings in Franco-Nevada by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company’s stock worth $916,540,000 after buying an additional 132,465 shares in the last quarter. Bank of Montreal Can lifted its holdings in Franco-Nevada by 0.3% in the 4th quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company’s stock worth $622,124,000 after buying an additional 15,273 shares in the last quarter. Finally, EdgePoint Investment Group Inc. boosted its position in Franco-Nevada by 49.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company’s stock valued at $582,100,000 after buying an additional 1,650,358 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $159.08 on Monday. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $178.74. The firm’s 50-day moving average is $160.40 and its 200-day moving average is $139.65. The company has a market cap of $30.63 billion, a P/E ratio of -50.34, a PEG ratio of 9.78 and a beta of 0.45.

Franco-Nevada (NYSE:FNV) (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 analysts’ consensus estimates 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 analysts’ expectations of $328.79 million. During the same quarter last year, the company posted $0.76 earnings per share. Franco-Nevada’s revenue was up 43.5% on a year-over-year basis. As a group, sell-side analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced 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%.

Analysts Set New Price Targets

FNV has been the topic of several recent analyst reports. TD Securities cut Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, March 11th. Scotiabank upped their target price 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. UBS Group increased their target price on Franco-Nevada from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 11th. HC Wainwright increased their target price on Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, March 26th. Finally, Royal Bank of Canada increased their target price on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.75.

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.