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

Renaissance Technologies LLC cut its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.5% in the second quarter, Holdings Channel.com reports. The firm owned 3,073,949 shares of the basic materials company’s stock after selling 177,900 shares during the quarter. Franco-Nevada makes up approximately 0.6% of Renaissance Technologies LLC’s investment portfolio, making the stock its 12th largest position. Renaissance Technologies LLC’s holdings in Franco-Nevada were worth $364,324,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of Franco-Nevada by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 155,836 shares of the basic materials company’s stock worth $18,472,000 after buying an additional 6,202 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Franco-Nevada by 0.5% in the 2nd 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 purchasing an additional 64,429 shares during the last quarter. Walter Public Investments Inc. acquired a new stake in Franco-Nevada in the 2nd quarter valued at about $11,247,000. Parallel Advisors LLC lifted its stake in Franco-Nevada by 11.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,925 shares of the basic materials company’s stock valued at $347,000 after purchasing an additional 312 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Franco-Nevada by 4.3% in the 2nd quarter. American Century Companies Inc. now owns 209,192 shares of the basic materials company’s stock valued at $24,794,000 after purchasing an additional 8,600 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Up 0.1 %

Shares of NYSE FNV opened at $125.13 on Monday. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $145.82. The firm has a fifty day simple moving average of $123.49 and a 200 day simple moving average of $120.99. The company has a market capitalization of $24.08 billion, a PE 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 announced its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The firm had revenue of $260.10 million for the quarter, compared to the consensus estimate of $277.44 million. During the same period in the prior year, the business earned $0.95 EPS. Franco-Nevada’s quarterly revenue was down 21.2% on a year-over-year basis. As a group, equities analysts expect that Franco-Nevada Co. will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The company 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 dividend of $0.36 per share. 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 dividend payout ratio is presently -57.83%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Bank of America raised their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Scotiabank raised their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. HC Wainwright reiterated a “buy” rating and issued a $185.00 target price on shares of Franco-Nevada in a research note on Friday, August 16th. Finally, Jefferies Financial Group increased their price target on shares of Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.75.

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.