Point72 DIFC Ltd purchased a new stake in Franco-Nevada Co. (NYSE:FNV – Free Report) (TSE:FNV) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 415 shares of the basic materials company’s stock, valued at approximately $52,000.
Several other hedge funds have also bought and sold shares of FNV. NFJ Investment Group LLC acquired a new position in shares of Franco-Nevada in the 3rd quarter valued at $6,702,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Franco-Nevada in the third quarter valued at $168,000. Erste Asset Management GmbH acquired a new position in shares of Franco-Nevada in the third quarter worth about $55,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Franco-Nevada by 76.5% during 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 acquired a new stake in shares of Franco-Nevada during the 3rd quarter valued at about $244,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.
Franco-Nevada Stock Up 1.3 %
Shares of NYSE FNV opened at $122.16 on Tuesday. The firm has a 50-day simple moving average of $125.16 and a 200-day simple moving average of $123.53. The stock has a market capitalization of $23.51 billion, a price-to-earnings ratio of -38.66 and a beta of 0.72. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60.
Franco-Nevada Dividend Announcement
The business also recently disclosed 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 is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.18%. Franco-Nevada’s payout ratio is -45.57%.
Wall Street Analysts Forecast Growth
FNV has been the subject of a number of analyst reports. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group dropped their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. HC Wainwright upped their price objective on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating 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 analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and an average target price of $152.83.
View Our Latest Stock Analysis on FNV
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.
See Also
- Five stocks we like better than Franco-Nevada
- What is an Earnings Surprise?
- How to Master Trading Discipline: Overcome Emotional Challenges
- Energy and Oil Stocks Explained
- Does China Investigation Change NVIDIA’s Outlook; Yes, No, Maybe?
- What is a Stock Market Index and How Do You Use Them?
- Is Marvell Technology Chipping Away at NVIDIA’s Market Lead?
Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco-Nevada Co. (NYSE:FNV – Free Report) (TSE:FNV).
Receive News & Ratings for Franco-Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco-Nevada and related companies with MarketBeat.com's FREE daily email newsletter.