Gabelli Funds LLC Boosts Stake in Franco Nevada Corp (FNV)

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Gabelli Funds LLC lifted its holdings in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 551,400 shares of the basic materials company’s stock after buying an additional 44,400 shares during the period. Gabelli Funds LLC owned approximately 0.30% of Franco Nevada worth $34,490,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of FNV. BNP Paribas Arbitrage SA lifted its stake 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 worth $109,000 after buying an additional 900 shares in the last quarter. Tuttle Tactical Management purchased a new position in Franco Nevada during the second quarter worth about $111,000. Stratos Wealth Partners LTD. purchased a new position in Franco Nevada during the third quarter worth about $146,000. Janney Montgomery Scott LLC purchased a new position in Franco Nevada during the second quarter worth about $218,000. Finally, Community Financial Services Group LLC purchased a new position in Franco Nevada during the second quarter worth about $219,000. 63.42% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the stock. Desjardins raised shares of Franco Nevada from a “sell” rating to a “hold” rating in a research note on Saturday, October 6th. Deutsche Bank set a $74.00 target price on shares of Franco Nevada and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Macquarie downgraded shares of Franco Nevada from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 10th. ValuEngine downgraded shares of Franco Nevada from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Finally, TD Securities set a $93.00 target price on shares of Franco Nevada and gave the stock a “buy” rating in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $87.50.

Shares of FNV stock opened at $65.51 on Wednesday. Franco Nevada Corp has a 12 month low of $58.26 and a 12 month high of $86.06. The stock has a market cap of $12.15 billion, a price-to-earnings ratio of 53.87, a PEG ratio of 14.15 and a beta of -0.13.

Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Franco Nevada had a net margin of 32.94% and a return on equity of 4.80%. The business had revenue of $170.60 million during the quarter, compared to analysts’ expectations of $158.85 million. During the same period last year, the business earned $0.30 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities analysts predict that Franco Nevada Corp will post 1.15 EPS for the current fiscal year.

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Franco Nevada Profile

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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Institutional Ownership by Quarter for Franco Nevada (NYSE:FNV)

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