Two Sigma Advisers LP Buys 359,900 Shares of Franco-Nevada Co. (NYSE:FNV)

Two Sigma Advisers LP lifted its holdings in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 60.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 958,300 shares of the basic materials company's stock after purchasing an additional 359,900 shares during the quarter. Two Sigma Advisers LP owned 0.50% of Franco-Nevada worth $119,069,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Stansberry Asset Management LLC raised its holdings in Franco-Nevada by 10.9% during the 3rd quarter. Stansberry Asset Management LLC now owns 14,120 shares of the basic materials company's stock worth $1,754,000 after buying an additional 1,384 shares during the period. Stifel Financial Corp boosted its stake in Franco-Nevada by 60.0% in the 3rd quarter. Stifel Financial Corp now owns 40,012 shares of the basic materials company's stock worth $4,972,000 after purchasing an additional 15,008 shares during the period. Quantinno Capital Management LP increased its holdings in 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 purchasing an additional 1,409 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Franco-Nevada in the 3rd quarter valued at about $52,000. Finally, NFJ Investment Group LLC bought a new stake in shares of Franco-Nevada in the third quarter valued at about $6,702,000. Institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. TD Cowen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. 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 raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Finally, UBS Group assumed coverage on Franco-Nevada in a report on Monday, November 18th. They issued a "buy" rating and a $160.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Franco-Nevada currently has a consensus rating of "Moderate Buy" and a consensus price target of $152.83.

Franco-Nevada Stock Performance

NYSE:FNV traded down $3.00 during mid-day trading on Friday, hitting $120.53. The stock had a trading volume of 341,016 shares, compared to its average volume of 665,359. The company's 50 day simple moving average is $125.30 and its 200 day simple moving average is $123.62. The stock has a market cap of $23.20 billion, a price-to-earnings ratio of -38.10 and a beta of 0.72. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $137.60.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued 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 positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business's revenue was down 10.9% compared to the same quarter last year. As a group, equities analysts forecast that Franco-Nevada Co. will post 3.22 earnings per share for the current 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 $0.36 dividend. 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 payout ratio is presently -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.