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

Renaissance Technologies LLC boosted its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,159,439 shares of the basic materials company's stock after acquiring an additional 20,890 shares during the period. Franco-Nevada accounts for 0.5% of Renaissance Technologies LLC's investment portfolio, making the stock its 19th biggest position. Renaissance Technologies LLC owned approximately 1.64% of Franco-Nevada worth $371,518,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Franco-Nevada during the fourth quarter valued at approximately $237,643,000. Arrowstreet Capital Limited Partnership boosted its holdings in 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 acquiring an additional 828,166 shares in the last quarter. Proficio Capital Partners LLC increased its position in Franco-Nevada by 11,659.0% during the 4th 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. Bennbridge Ltd bought a new position in Franco-Nevada in the 4th quarter worth $45,877,000. Finally, Geode Capital Management LLC lifted its position in shares of Franco-Nevada by 31.2% in the 4th quarter. Geode Capital Management LLC now owns 1,101,854 shares of the basic materials company's stock worth $129,870,000 after purchasing an additional 261,951 shares during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have recently commented on FNV. Royal Bank of Canada raised their target price on Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. Scotiabank raised their price objective on Franco-Nevada from $145.00 to $150.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 11th. HC Wainwright upped their target price on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. UBS Group lifted their price target on shares of Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday. Finally, StockNews.com raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Franco-Nevada has an average rating of "Moderate Buy" and a consensus price target of $160.38.

Franco-Nevada Stock Up 5.5 %

Shares of NYSE FNV traded up $8.65 during midday trading on Friday, hitting $166.13. The stock had a trading volume of 2,125,418 shares, compared to its average volume of 684,077. The company has a market cap of $31.99 billion, a P/E ratio of -52.57, a PEG ratio of 9.78 and a beta of 0.68. The business's 50 day moving average is $147.54 and its 200-day moving average is $132.76. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $167.36.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Monday, March 10th. The basic materials company reported $0.95 EPS 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 business had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. During the same period last year, the business posted $0.90 EPS. The company's revenue was up 5.8% compared to the same quarter last year. As a group, analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $0.38 dividend. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.91%. Franco-Nevada's payout ratio is 53.15%.

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.