Franco-Nevada Co. (NYSE:FNV) Holdings Boosted by Two Sigma Investments LP

Two Sigma Investments LP raised its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 15.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,029,460 shares of the basic materials company’s stock after acquiring an additional 135,251 shares during the quarter. Two Sigma Investments LP’s holdings in Franco-Nevada were worth $121,054,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in FNV. Norges Bank acquired a new stake in shares of Franco-Nevada in the fourth quarter valued at approximately $237,643,000. EdgePoint Investment Group Inc. increased its stake in shares of Franco-Nevada by 49.9% in 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. Arrowstreet Capital Limited Partnership increased its stake in shares of Franco-Nevada by 246.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company’s stock valued at $136,796,000 after purchasing an additional 828,166 shares during the period. Capital World Investors increased its stake in shares of Franco-Nevada by 9.8% in 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. Finally, Proficio Capital Partners LLC increased its stake in shares of Franco-Nevada by 11,659.0% in the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company’s stock valued at $56,762,000 after purchasing an additional 478,602 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. BMO Capital Markets initiated coverage on shares of Franco-Nevada in a research note on Wednesday, April 16th. They issued an “outperform” rating on the stock. HC Wainwright raised their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, March 26th. TD Securities lowered 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 note on Tuesday, March 11th. Raymond James raised their price objective on shares of Franco-Nevada from $162.00 to $181.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Franco-Nevada in a research note on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $162.75.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $159.08 on Monday. The stock has a market capitalization of $30.63 billion, a price-to-earnings ratio of -50.34, a PEG 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 $160.40 and a 200 day moving average price of $139.65.

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 for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The firm 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 revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. On average, sell-side analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm 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 dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, June 12th. Franco-Nevada’s payout ratio is 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.