Renaissance Technologies LLC Increases Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Renaissance Technologies LLC boosted its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,159,439 shares of the basic materials company’s stock after acquiring an additional 20,890 shares during the quarter. Franco-Nevada comprises about 0.5% of Renaissance Technologies LLC’s holdings, making the stock its 19th largest holding. Renaissance Technologies LLC owned approximately 1.64% of Franco-Nevada worth $371,518,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Essex Financial Services Inc. raised its stake in 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 worth $458,000 after acquiring an additional 84 shares during the period. Harbour Investments Inc. grew its holdings in Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after buying an additional 93 shares in the last quarter. Mutual Advisors LLC boosted its position 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 worth $309,000 after acquiring an additional 96 shares during the period. Sustainable Insight Capital Management LLC grew its stake in shares of Franco-Nevada by 2.7% in the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock worth $441,000 after purchasing an additional 100 shares in the last quarter. Finally, Blossom Wealth Management increased its holdings in shares of Franco-Nevada by 3.9% during the fourth quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock valued at $335,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Up 0.3 %

Shares of FNV stock opened at $145.39 on Tuesday. The company has a market capitalization of $28.00 billion, a P/E ratio of -46.01, a P/E/G ratio of 9.78 and a beta of 0.68. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $161.36. The stock has a 50 day moving average of $145.51 and a two-hundred day moving average of $131.81.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $321.00 million for the quarter, compared to analyst estimates of $304.33 million. During the same period in the prior year, the company posted $0.90 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Sell-side analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.38 per share. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 1.05%. Franco-Nevada’s dividend payout ratio is 53.15%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FNV. HC Wainwright raised their target price on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, March 26th. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday. Scotiabank upped their price objective on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 11th. Royal Bank of Canada upped their target price on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Finally, TD Securities downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, March 11th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.88.

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.