Two Sigma Advisers LP Has $119.07 Million Stock Position in Franco-Nevada Co. (NYSE:FNV)

Two Sigma Advisers LP lifted its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 60.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 958,300 shares of the basic materials company’s stock after buying an additional 359,900 shares during the quarter. Two Sigma Advisers LP owned about 0.50% of Franco-Nevada worth $119,069,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FNV. Stansberry Asset Management LLC lifted its stake in Franco-Nevada by 10.9% in the 3rd quarter. Stansberry Asset Management LLC now owns 14,120 shares of the basic materials company’s stock valued at $1,754,000 after purchasing an additional 1,384 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Franco-Nevada by 60.0% in the third quarter. Stifel Financial Corp now owns 40,012 shares of the basic materials company’s stock valued at $4,972,000 after buying an additional 15,008 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Franco-Nevada by 6.5% during the 3rd quarter. Quantinno Capital Management LP now owns 23,233 shares of the basic materials company’s stock worth $2,887,000 after acquiring an additional 1,409 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Franco-Nevada during the 3rd quarter worth approximately $52,000. Finally, NFJ Investment Group LLC bought a new stake in Franco-Nevada in the 3rd quarter valued at $6,702,000. 77.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FNV has been the topic of several research analyst reports. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Scotiabank reduced their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Finally, HC Wainwright increased their price objective on Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Franco-Nevada has an average rating of “Moderate Buy” and a consensus price target of $152.83.

Franco-Nevada Stock Performance

FNV opened at $123.53 on Friday. The firm has a market cap of $23.78 billion, a P/E ratio of -39.09 and a beta of 0.72. The business’s fifty day moving average is $125.30 and its 200-day moving average is $123.62. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same period in the prior year, the business earned $0.91 earnings per share. Franco-Nevada’s quarterly revenue was down 10.9% compared to the same quarter last year. On average, research analysts predict that Franco-Nevada Co. will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s payout ratio is presently -45.57%.

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.