Renaissance Technologies LLC Has $364.32 Million Holdings in Franco-Nevada Co. (NYSE:FNV)

Renaissance Technologies LLC cut its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,073,949 shares of the basic materials company’s stock after selling 177,900 shares during the period. Franco-Nevada accounts for about 0.6% of Renaissance Technologies LLC’s investment portfolio, making the stock its 12th biggest position. Renaissance Technologies LLC owned 1.60% of Franco-Nevada worth $364,324,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its position in 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 buying an additional 64,429 shares in the last quarter. FIL Ltd raised its stake in shares of Franco-Nevada by 7.8% in the fourth quarter. FIL Ltd now owns 9,079,951 shares of the basic materials company’s stock worth $1,005,852,000 after acquiring an additional 659,324 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Franco-Nevada by 1.8% in the second quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock worth $1,022,452,000 after acquiring an additional 151,566 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Franco-Nevada by 1.8% in the first quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock worth $878,696,000 after acquiring an additional 129,876 shares during the last quarter. Finally, Capital World Investors raised its stake in shares of Franco-Nevada by 2.7% in the first quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company’s stock worth $547,807,000 after acquiring an additional 120,367 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FNV has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their target price on shares of Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Bank of America boosted their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, HC Wainwright reissued a “buy” rating and set a $185.00 price target on shares of Franco-Nevada in a research note on Friday, August 16th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and an average price target of $152.75.

Franco-Nevada Stock Up 0.1 %

FNV opened at $125.13 on Monday. Franco-Nevada Co. has a 12 month low of $102.29 and a 12 month high of $145.82. The company has a fifty day simple moving average of $123.49 and a 200 day simple moving average of $120.99. The stock has a market cap of $24.08 billion, a P/E ratio of -50.25, a P/E/G ratio of 20.59 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The firm had revenue of $260.10 million during the quarter, compared to the consensus estimate of $277.44 million. During the same quarter in the prior year, the company earned $0.95 EPS. Franco-Nevada’s quarterly revenue was down 21.2% on a year-over-year basis. On average, equities research analysts expect that Franco-Nevada Co. will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, September 12th. Franco-Nevada’s payout ratio is presently -57.83%.

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.