America First Investment Advisors LLC lessened its holdings in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 0.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 194,119 shares of the basic materials company’s stock after selling 1,124 shares during the period. Franco Nevada accounts for approximately 5.3% of America First Investment Advisors LLC’s portfolio, making the stock its 6th largest holding. America First Investment Advisors LLC owned approximately 0.10% of Franco Nevada worth $17,696,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of FNV. Prudential PLC purchased a new stake in shares of Franco Nevada in the second quarter worth $87,966,000. Mackenzie Financial Corp raised its position in Franco Nevada by 413.6% during the second quarter. Mackenzie Financial Corp now owns 871,792 shares of the basic materials company’s stock valued at $73,998,000 after purchasing an additional 702,065 shares in the last quarter. Invesco Ltd. raised its position in Franco Nevada by 239.9% during the second quarter. Invesco Ltd. now owns 894,881 shares of the basic materials company’s stock valued at $75,956,000 after purchasing an additional 631,636 shares in the last quarter. Renaissance Technologies LLC raised its position in Franco Nevada by 20.4% during the second quarter. Renaissance Technologies LLC now owns 3,675,031 shares of the basic materials company’s stock valued at $311,948,000 after purchasing an additional 621,600 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. purchased a new stake in Franco Nevada during the third quarter valued at about $40,618,000. Institutional investors own 64.21% of the company’s stock.
A number of equities research analysts have weighed in on FNV shares. Barclays set a $89.00 price target on Franco Nevada and gave the company a “hold” rating in a research report on Friday, July 19th. CIBC restated a “buy” rating and set a $143.00 price target on shares of Franco Nevada in a research report on Thursday, October 17th. Raymond James raised their price target on Franco Nevada from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Canaccord Genuity restated a “buy” rating on shares of Franco Nevada in a research report on Friday, August 23rd. Finally, ValuEngine downgraded Franco Nevada from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $102.69.
NYSE FNV opened at $95.61 on Friday. The stock’s 50-day simple moving average is $94.28 and its two-hundred day simple moving average is $86.80. Franco Nevada Corp has a twelve month low of $62.80 and a twelve month high of $101.19. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $18.05 billion and a price-to-earnings ratio of 81.72.
Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. Franco Nevada had a return on equity of 4.83% and a net margin of 22.42%. The firm had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $175.55 million. During the same period last year, the firm earned $0.29 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts expect that Franco Nevada Corp will post 1.63 earnings per share for the current fiscal year.
Franco Nevada Company Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
Further Reading: Diversification Important in Investing
Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco Nevada Corp (NYSE:FNV) (TSE:FNV).
Receive News & Ratings for Franco Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco Nevada and related companies with MarketBeat.com's FREE daily email newsletter.