Private Wealth Partners LLC Boosts Stake in Franco Nevada Corp (FNV)

Private Wealth Partners LLC lifted its position in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 3.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,900 shares of the basic materials company’s stock after purchasing an additional 2,500 shares during the quarter. Franco Nevada accounts for about 1.1% of Private Wealth Partners LLC’s holdings, making the stock its 28th largest holding. Private Wealth Partners LLC’s holdings in Franco Nevada were worth $6,522,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. HL Financial Services LLC purchased a new position in shares of Franco Nevada in the 1st quarter worth about $743,000. Parallel Advisors LLC boosted its holdings in shares of Franco Nevada by 49.1% in the 1st quarter. Parallel Advisors LLC now owns 1,182 shares of the basic materials company’s stock worth $89,000 after purchasing an additional 389 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Franco Nevada by 100.0% in the 1st quarter. Moors & Cabot Inc. now owns 19,196 shares of the basic materials company’s stock worth $1,456,000 after purchasing an additional 9,599 shares in the last quarter. Keeley Teton Advisors LLC purchased a new position in shares of Franco Nevada in the 1st quarter worth about $1,872,000. Finally, Tocqueville Asset Management L.P. boosted its holdings in shares of Franco Nevada by 2.7% in the 1st quarter. Tocqueville Asset Management L.P. now owns 1,007,950 shares of the basic materials company’s stock worth $75,605,000 after purchasing an additional 26,545 shares in the last quarter. Hedge funds and other institutional investors own 67.69% of the company’s stock.

FNV stock traded down $0.64 during trading on Tuesday, hitting $70.43. 6,869 shares of the company traded hands, compared to its average volume of 492,096. The stock has a market capitalization of $13.22 billion, a PE ratio of 60.14, a P/E/G ratio of 14.23 and a beta of 0.10. Franco Nevada Corp has a 1 year low of $58.26 and a 1 year high of $78.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.14 and a quick ratio of 7.14.

Franco Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, March 19th. The basic materials company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). The company had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $157.37 million. Franco Nevada had a net margin of 21.28% and a return on equity of 4.62%. The company’s revenue was down 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. Analysts anticipate that Franco Nevada Corp will post 1.24 EPS for the current year.

A number of equities analysts have recently issued reports on FNV shares. BMO Capital Markets reiterated an “average” rating and issued a $100.00 price objective on shares of Franco Nevada in a report on Friday, April 5th. TD Securities dropped their target price on Franco Nevada from $93.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Zacks Investment Research upgraded Franco Nevada from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a report on Tuesday, January 29th. TheStreet cut Franco Nevada from a “b” rating to a “c+” rating in a report on Friday, April 5th. Finally, Barclays cut Franco Nevada from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $74.00 to $73.00 in a report on Tuesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $89.86.

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Franco Nevada 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.

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

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