Oxbow Advisors LLC Buys 15,260 Shares of Franco-Nevada Corporation $FNV

Key Points

• Oxbow Advisors LLC increased its stake in Franco-Nevada by 76% in the fourth quarter, buying 15,260 additional shares and bringing its total holdings to 35,332 shares valued at about $7.3 million.
• Other institutional investors also added to or initiated positions in FNV, and the stock is now about 77.06% owned by institutions.
• Wall Street sentiment is mixed but generally constructive: Franco-Nevada has a Moderate Buy consensus, with eight Buy ratings and six Hold ratings, while the company also beat quarterly earnings and revenue estimates in its latest report.

Oxbow Advisors LLC boosted its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 76.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,332 shares of the basic materials company's stock after buying an additional 15,260 shares during the quarter. Oxbow Advisors LLC's holdings in Franco-Nevada were worth $7,324,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FNV. Ethic Inc. raised its position in shares of Franco-Nevada by 65.8% during the fourth quarter. Ethic Inc. now owns 1,646 shares of the basic materials company's stock worth $341,000 after acquiring an additional 653 shares during the last quarter. Varma Mutual Pension Insurance Co bought a new position in Franco-Nevada in the fourth quarter valued at about $14,238,000. Intact Investment Management Inc. boosted its holdings in Franco-Nevada by 83.9% in the fourth quarter. Intact Investment Management Inc. now owns 206,208 shares of the basic materials company's stock valued at $42,742,000 after acquiring an additional 94,088 shares during the last quarter. PKO Investment Management Joint Stock Co increased its position in Franco-Nevada by 11.4% in the fourth quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company's stock worth $14,519,000 after purchasing an additional 7,150 shares during the period. Finally, Benjamin Edwards Inc. increased its position in Franco-Nevada by 101.3% in the fourth quarter. Benjamin Edwards Inc. now owns 3,394 shares of the basic materials company's stock worth $703,000 after purchasing an additional 1,708 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FNV shares. Weiss Ratings upgraded shares of Franco-Nevada from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, March 20th. Scotiabank boosted their price target on shares of Franco-Nevada from $283.00 to $286.00 and gave the stock a "sector perform" rating in a research note on Monday, March 16th. HC Wainwright raised their price objective on shares of Franco-Nevada from $285.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, March 12th. Zacks Research lowered shares of Franco-Nevada from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Finally, Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Sunday, April 26th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Franco-Nevada currently has a consensus rating of "Moderate Buy" and an average target price of $257.25.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $231.92 on Friday. The company has a 50 day moving average price of $250.51 and a two-hundred day moving average price of $229.93. The company has a market capitalization of $44.73 billion, a PE ratio of 40.26, a PEG ratio of 2.24 and a beta of 0.34. Franco-Nevada Corporation has a 52 week low of $152.89 and a 52 week high of $285.67.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.67 by $0.18. Franco-Nevada had a net margin of 61.01% and a return on equity of 15.62%. The company had revenue of $597.30 million for the quarter, compared to analysts' expectations of $542.02 million. During the same period last year, the firm posted $0.95 earnings per share. The business's quarterly revenue was up 86.1% compared to the same quarter last year. On average, sell-side analysts forecast that Franco-Nevada Corporation will post 7.89 earnings per share for the current year.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company's business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.

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