Victory Capital Management Inc. grew its stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,694,440 shares of the basic materials company's stock after acquiring an additional 13,225 shares during the period. Victory Capital Management Inc. owned 1.40% of Franco-Nevada worth $298,571,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of FNV. Van ECK Associates Corp grew its stake in Franco-Nevada by 9.9% in the fourth quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company's stock worth $972,707,000 after purchasing an additional 789,070 shares in the last quarter. Quadrature Capital Ltd grew its holdings in Franco-Nevada by 119.3% during the 3rd quarter. Quadrature Capital Ltd now owns 581,900 shares of the basic materials company's stock worth $78,184,000 after acquiring an additional 316,600 shares in the last quarter. Montrusco Bolton Investments Inc. increased its position in Franco-Nevada by 270.4% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 405,712 shares of the basic materials company's stock valued at $54,414,000 after purchasing an additional 296,169 shares during the period. FMR LLC increased its position in Franco-Nevada by 1.3% during the 3rd quarter. FMR LLC now owns 16,565,648 shares of the basic materials company's stock valued at $2,211,558,000 after purchasing an additional 208,392 shares during the period. Finally, Gabelli Funds LLC increased its holdings in Franco-Nevada by 75.5% during the third quarter. Gabelli Funds LLC now owns 472,460 shares of the basic materials company's stock valued at $63,189,000 after buying an additional 203,300 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.
Franco-Nevada Price Performance
Franco-Nevada stock traded up $1.50 during trading hours on Wednesday, hitting $121.90. 633,157 shares of the stock traded hands, compared to its average volume of 732,093. Franco-Nevada Co. has a 1 year low of $102.29 and a 1 year high of $161.25. The stock has a market capitalization of $23.44 billion, a price-to-earnings ratio of -50.05, a P/E/G ratio of 6.29 and a beta of 0.71. The firm's 50 day moving average price is $115.84 and its 200-day moving average price is $115.30.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The firm had revenue of $303.30 million for the quarter. Research analysts forecast that Franco-Nevada Co. will post 2.97 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on FNV shares. Bank of America lowered their target price on Franco-Nevada from $138.00 to $136.00 and set a "buy" rating for the company in a report on Monday, March 18th. Raymond James raised their price objective on Franco-Nevada from $138.00 to $141.00 and gave the company an "outperform" rating in a research report on Thursday, April 11th. TheStreet downgraded shares of Franco-Nevada from a "c+" rating to a "d+" rating in a report on Tuesday, March 5th. Jefferies Financial Group increased their price objective on Franco-Nevada from $117.00 to $129.00 and gave the company a "hold" rating in a report on Monday, April 22nd. Finally, Scotiabank raised their price objective on Franco-Nevada from $139.00 to $140.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Franco-Nevada currently has a consensus rating of "Hold" and a consensus price target of $148.60.
Read Our Latest Analysis on Franco-Nevada
About Franco-Nevada
(
Free Report)
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.
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