Point72 Asset Management L.P. Acquires 26,557 Shares of Franco-Nevada Co. (NYSE:FNV)

Point72 Asset Management L.P. boosted its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 114.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 49,806 shares of the basic materials company’s stock after purchasing an additional 26,557 shares during the period. Point72 Asset Management L.P.’s holdings in Franco-Nevada were worth $5,857,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its position in Franco-Nevada by 2.3% in the 4th 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 position in shares of Franco-Nevada by 9.8% during the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock valued at $934,106,000 after purchasing an additional 711,591 shares during the period. Vanguard Group Inc. increased its position in shares of Franco-Nevada by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company’s stock valued at $916,540,000 after purchasing an additional 132,465 shares during the period. Bank of Montreal Can increased its position in shares of Franco-Nevada by 0.3% during the fourth quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company’s stock valued at $622,124,000 after purchasing an additional 15,273 shares during the period. Finally, EdgePoint Investment Group Inc. increased its position in shares of Franco-Nevada by 49.9% during the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company’s stock valued at $582,100,000 after purchasing an additional 1,650,358 shares during the period. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Price Performance

Shares of FNV stock opened at $162.01 on Tuesday. The stock’s fifty day simple moving average is $160.70 and its 200 day simple moving average is $139.86. The firm has a market cap of $31.20 billion, a price-to-earnings ratio of -51.27, a P/E/G ratio of 9.78 and a beta of 0.45. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $178.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. The business had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. Franco-Nevada’s quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 EPS. On average, research analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada’s dividend payout ratio is currently 47.50%.

Analyst Ratings Changes

A number of analysts have recently issued reports on FNV shares. BMO Capital Markets started coverage on Franco-Nevada in a research report on Wednesday, April 16th. They set an “outperform” rating on the stock. Royal Bank of Canada boosted their price objective on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. TD Securities cut 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. Raymond James boosted 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. Finally, HC Wainwright boosted their price objective on Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, March 26th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada presently has a consensus rating of “Moderate Buy” and an average price target of $162.75.

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.