Squarepoint Ops LLC Purchases 9,433 Shares of Franco-Nevada Corporation $FNV

Squarepoint Ops LLC raised its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 72.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,382 shares of the basic materials company’s stock after purchasing an additional 9,433 shares during the quarter. Squarepoint Ops LLC’s holdings in Franco-Nevada were worth $3,669,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Public Sector Pension Investment Board raised its holdings in Franco-Nevada by 0.5% in the 1st quarter. Public Sector Pension Investment Board now owns 18,550 shares of the basic materials company’s stock valued at $2,917,000 after buying an additional 100 shares during the last quarter. Nations Financial Group Inc. IA ADV bought a new stake in Franco-Nevada during the 1st quarter worth approximately $223,000. Raymond James Financial Inc. increased its position in Franco-Nevada by 8.4% in the 1st quarter. Raymond James Financial Inc. now owns 113,164 shares of the basic materials company’s stock valued at $17,830,000 after acquiring an additional 8,732 shares during the period. Northern Trust Corp raised its stake in shares of Franco-Nevada by 12.8% during the first quarter. Northern Trust Corp now owns 172,675 shares of the basic materials company’s stock valued at $27,207,000 after acquiring an additional 19,580 shares during the last quarter. Finally, Korea Investment CORP lifted its holdings in shares of Franco-Nevada by 2.6% during the first quarter. Korea Investment CORP now owns 126,467 shares of the basic materials company’s stock worth $19,888,000 after purchasing an additional 3,207 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

Shares of NYSE:FNV opened at $209.43 on Wednesday. Franco-Nevada Corporation has a 1 year low of $114.81 and a 1 year high of $225.63. The business’s 50-day moving average is $199.40 and its 200-day moving average is $186.59. The company has a market capitalization of $40.37 billion, a price-to-earnings ratio of 43.90, a P/E/G ratio of 1.64 and a beta of 0.46.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. Franco-Nevada had a return on equity of 13.94% and a net margin of 59.48%.The business had revenue of $487.70 million during the quarter, compared to the consensus estimate of $448.51 million. During the same period in the previous year, the company posted $0.80 earnings per share. The firm’s revenue for the quarter was up 76.9% on a year-over-year basis. Analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $1.52 annualized dividend and a yield of 0.7%. Franco-Nevada’s dividend payout ratio is currently 31.87%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FNV shares. Jefferies Financial Group restated a “hold” rating and issued a $228.00 price objective on shares of Franco-Nevada in a report on Sunday, December 7th. UBS Group upped their price target on Franco-Nevada from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Franco-Nevada in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus target price of $232.75.

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.