Franco-Nevada Corporation has seen significant growth in institutional investment.
Victory Capital Management Inc. increased its holdings in the company by 13.9% during the third quarter, now owning 3,489,240 shares valued at approximately $433.5 million. Two Sigma Advisers LP also expanded its stake in Franco-Nevada by 60.1%, bringing its total to 958,300 shares valued at around $119 million. Hedge funds and institutional investors collectively own 77.06% of the company's stock, indicating strong institutional backing.
Analyst ratings for Franco-Nevada are generally positive, with a consensus price target of $157.00.
The company's recent financial performance showed a decline in earnings per share and revenue, but it maintains a positive return on equity.
Recent hedge fund activity further highlights the growing interest in Franco-Nevada.