Hsbc Holdings PLC Trims Position in Franco-Nevada Co. (NYSE:FNV)

Hsbc Holdings PLC cut its stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 33.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 178,213 shares of the basic materials company's stock after selling 87,668 shares during the quarter. Hsbc Holdings PLC owned about 0.09% of Franco-Nevada worth $20,930,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in FNV. Barclays PLC lifted its holdings in shares of Franco-Nevada by 29.4% in the third quarter. Barclays PLC now owns 35,828 shares of the basic materials company's stock worth $4,450,000 after buying an additional 8,147 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Franco-Nevada in the third quarter worth $326,000. Tri Ri Asset Management Corp bought a new stake in Franco-Nevada during the third quarter valued at $3,433,000. Franklin Resources Inc. grew its position in Franco-Nevada by 8.3% during the third quarter. Franklin Resources Inc. now owns 79,232 shares of the basic materials company's stock worth $9,957,000 after buying an additional 6,052 shares in the last quarter. Finally, Confluence Investment Management LLC increased its stake in Franco-Nevada by 8.7% in the 4th quarter. Confluence Investment Management LLC now owns 5,790 shares of the basic materials company's stock worth $681,000 after acquiring an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Performance

FNV traded down $1.39 on Friday, hitting $164.30. 235,594 shares of the company were exchanged, compared to its average volume of 707,943. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $178.74. The firm has a fifty day simple moving average of $155.80 and a two-hundred day simple moving average of $137.23. The stock has a market capitalization of $31.64 billion, a PE ratio of -52.04, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. The company had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. On average, equities analysts expect that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

FNV has been the topic of several research analyst reports. StockNews.com upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, April 7th. TD Securities downgraded shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective for the company. in a report on Tuesday, March 11th. HC Wainwright increased their target price on Franco-Nevada from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. UBS Group lifted their price target on Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, BMO Capital Markets began coverage on Franco-Nevada in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Franco-Nevada has an average rating of "Moderate Buy" and an average price target of $162.25.

Franco-Nevada Company 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.