Magnetar Financial LLC Makes New Investment in Franco-Nevada Co. (NYSE:FNV)

Magnetar Financial LLC bought a new stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,464 shares of the basic materials company’s stock, valued at approximately $290,000.

Other hedge funds also recently made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new stake in Franco-Nevada during the fourth quarter worth about $47,000. Point72 DIFC Ltd purchased a new stake in shares of Franco-Nevada during the 3rd quarter worth approximately $52,000. Erste Asset Management GmbH bought a new stake in shares of Franco-Nevada in the 3rd quarter worth approximately $55,000. Harbour Investments Inc. lifted its stake in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 93 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Franco-Nevada during the fourth quarter valued at $73,000. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

NYSE:FNV opened at $155.85 on Monday. The firm has a market capitalization of $30.01 billion, a price-to-earnings ratio of -49.32, a P/E/G ratio of 9.78 and a beta of 0.73. The stock has a fifty day moving average of $139.63 and a 200 day moving average of $129.36. Franco-Nevada Co. has a 52-week low of $112.70 and a 52-week high of $157.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $321.00 million for the quarter, compared to analysts’ expectations of $304.33 million. During the same period in the prior year, the business earned $0.90 earnings per share. Franco-Nevada’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 0.98%. Franco-Nevada’s payout ratio is 53.15%.

Analyst Ratings Changes

FNV has been the topic of several research reports. HC Wainwright boosted their target price on Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. UBS Group upped their price objective on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Raymond James lifted their target price on shares of Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Scotiabank upped their price target on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada raised their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $153.63.

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.