PDT Partners LLC Makes New $1.31 Million Investment in Franco-Nevada Co. (NYSE:FNV)

PDT Partners LLC bought a new position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,534 shares of the basic materials company's stock, valued at approximately $1,309,000.

A number of other large investors have also recently modified their holdings of the business. Verition Fund Management LLC acquired a new stake in shares of Franco-Nevada in the 3rd quarter valued at approximately $2,995,000. Icon Wealth Advisors LLC bought a new position in Franco-Nevada in the 3rd quarter valued at approximately $151,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Franco-Nevada by 8.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,489 shares of the basic materials company's stock valued at $11,127,000 after buying an additional 6,676 shares in the last quarter. Horizon Kinetics Asset Management LLC boosted its position in Franco-Nevada by 1.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company's stock valued at $116,277,000 after buying an additional 17,232 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Franco-Nevada during the third quarter worth $717,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FNV shares. TD Cowen raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. StockNews.com raised Franco-Nevada from a "sell" rating to a "hold" rating in a research note on Thursday, August 22nd. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Scotiabank cut their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a research report on Friday, November 8th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $152.83.

Franco-Nevada Price Performance

NYSE FNV traded down $1.25 during mid-day trading on Monday, reaching $121.37. 304,364 shares of the stock were exchanged, compared to its average volume of 663,907. The stock has a market cap of $23.36 billion, a P/E ratio of -38.55, a P/E/G ratio of 20.72 and a beta of 0.75. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $137.60. The stock has a 50 day simple moving average of $125.77 and a 200-day simple moving average of $123.70.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same period last year, the business posted $0.91 earnings per share. The business's revenue was down 10.9% on a year-over-year basis. Sell-side analysts anticipate that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada's dividend payout ratio (DPR) is -45.57%.

About Franco-Nevada

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.