NN Investment Partners Holdings N.V. lowered its position in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 21.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,641 shares of the basic materials company’s stock after selling 15,294 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Franco Nevada were worth $3,480,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its holdings in shares of Franco Nevada by 128.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,600 shares of the basic materials company’s stock valued at $109,000 after buying an additional 900 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Franco Nevada by 6.8% in the first quarter. Wells Fargo & Company MN now owns 14,654 shares of the basic materials company’s stock valued at $1,002,000 after buying an additional 939 shares during the period. BlackRock Inc. boosted its holdings in shares of Franco Nevada by 1.1% in the first quarter. BlackRock Inc. now owns 117,074 shares of the basic materials company’s stock valued at $8,007,000 after buying an additional 1,282 shares during the period. Tuttle Tactical Management acquired a new position in shares of Franco Nevada in the second quarter valued at approximately $111,000. Finally, Marathon Asset Management LLP lifted its position in shares of Franco Nevada by 0.7% in the second quarter. Marathon Asset Management LLP now owns 280,783 shares of the basic materials company’s stock worth $20,483,000 after purchasing an additional 1,966 shares in the last quarter. Hedge funds and other institutional investors own 63.42% of the company’s stock.
FNV has been the topic of a number of research reports. Barclays initiated coverage on shares of Franco Nevada in a research report on Wednesday, October 10th. They issued an “overweight” rating and a $70.00 price objective on the stock. ValuEngine raised shares of Franco Nevada from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. Credit Suisse Group reissued a “neutral” rating on shares of Franco Nevada in a research report on Monday, September 10th. Desjardins raised shares of Franco Nevada from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Finally, Zacks Investment Research lowered shares of Franco Nevada from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $87.50.
Shares of FNV opened at $65.18 on Monday. The stock has a market capitalization of $12.15 billion, a PE ratio of 60.35, a P/E/G ratio of 14.15 and a beta of -0.13. Franco Nevada Corp has a fifty-two week low of $58.26 and a fifty-two week high of $86.06.
Franco Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, August 8th. The basic materials company reported $0.29 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. The company had revenue of $161.30 million for the quarter, compared to analyst estimates of $169.46 million. Franco Nevada had a net margin of 32.94% and a return on equity of 4.80%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. On average, sell-side analysts predict that Franco Nevada Corp will post 1.15 EPS for the current fiscal year.
About Franco Nevada
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.
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