Point72 Asset Management L.P. Has $2.89 Million Stock Position in Franco-Nevada Co. (NYSE:FNV)

Point72 Asset Management L.P. trimmed its holdings in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 93.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,249 shares of the basic materials company's stock after selling 320,590 shares during the period. Point72 Asset Management L.P.'s holdings in Franco-Nevada were worth $2,889,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of Franco-Nevada by 0.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company's stock valued at $1,456,208,000 after purchasing an additional 64,429 shares during the period. Van ECK Associates Corp boosted its holdings in Franco-Nevada by 1.8% during the second quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company's stock valued at $1,022,452,000 after acquiring an additional 151,566 shares during the period. Victory Capital Management Inc. grew its position in shares of Franco-Nevada by 13.9% in the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company's stock valued at $433,538,000 after purchasing an additional 424,810 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Franco-Nevada by 1.5% in the second quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company's stock worth $386,597,000 after purchasing an additional 47,311 shares during the period. Finally, EdgePoint Investment Group Inc. increased its stake in shares of Franco-Nevada by 0.5% in the second quarter. EdgePoint Investment Group Inc. now owns 2,772,446 shares of the basic materials company's stock worth $328,751,000 after purchasing an additional 12,769 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.

Franco-Nevada Stock Up 0.5 %

FNV stock traded up $0.58 during midday trading on Tuesday, reaching $122.73. 163,454 shares of the company's stock traded hands, compared to its average volume of 663,507. The company has a market cap of $23.62 billion, a price-to-earnings ratio of -38.66 and a beta of 0.72. The company has a 50-day simple moving average of $125.16 and a two-hundred day simple moving average of $123.53. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $137.60.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. During the same quarter last year, the business posted $0.91 earnings per share. The business's quarterly revenue was down 10.9% compared to the same quarter last year. Equities research analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.17%. Franco-Nevada's dividend payout ratio (DPR) is currently -45.57%.

Analysts Set New Price Targets

A number of analysts have issued reports on FNV shares. Bank of America lowered Franco-Nevada from a "buy" rating to a "neutral" rating and lowered their target price for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Scotiabank cut their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a research report on Friday, November 8th. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a research 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. Finally, StockNews.com upgraded Franco-Nevada from a "sell" rating to a "hold" rating in a research report on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $152.83.

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.