Point72 DIFC Ltd Makes New Investment in Franco-Nevada Co. (NYSE:FNV)

Point72 DIFC Ltd bought a new stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 415 shares of the basic materials company’s stock, valued at approximately $52,000.

Several other large investors have also modified their holdings of FNV. NFJ Investment Group LLC purchased a new position in Franco-Nevada during the third quarter valued at approximately $6,702,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Franco-Nevada during the 3rd quarter valued at $168,000. Erste Asset Management GmbH purchased a new position in shares of Franco-Nevada in the 3rd quarter valued at $55,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Franco-Nevada by 76.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock worth $159,530,000 after acquiring an additional 556,894 shares in the last quarter. Finally, Flow Traders U.S. LLC purchased a new stake in shares of Franco-Nevada during the 3rd quarter worth $244,000. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on FNV. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. 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 report on Thursday, August 22nd. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, HC Wainwright boosted their target price on Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $152.83.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $122.16 on Tuesday. The business’s 50-day simple moving average is $125.16 and its two-hundred day simple moving average is $123.53. The company has a market cap of $23.51 billion, a PE ratio of -38.66 and a beta of 0.72. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS 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 firm had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter in the prior year, the company earned $0.91 EPS. Franco-Nevada’s quarterly revenue was down 10.9% on a year-over-year basis. As a group, analysts predict that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.18%. Franco-Nevada’s dividend payout ratio is presently -45.57%.

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.