Cannell & Co. Trims Stock Position in Franco-Nevada Co. (NYSE:FNV)

Cannell & Co. reduced its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 39.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,482 shares of the basic materials company’s stock after selling 72,763 shares during the quarter. Cannell & Co. owned approximately 0.06% of Franco-Nevada worth $12,132,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FNV. VisionPoint Advisory Group LLC purchased a new position in Franco-Nevada during the 3rd quarter valued at $30,000. Castleview Partners LLC bought a new stake in shares of Franco-Nevada during the 3rd quarter valued at $33,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Franco-Nevada during the 4th quarter valued at $34,000. Allworth Financial LP boosted its holdings in shares of Franco-Nevada by 5,750.0% during the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after buying an additional 345 shares in the last quarter. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of Franco-Nevada by 209.0% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 309 shares of the basic materials company’s stock valued at $41,000 after buying an additional 209 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of research reports. TheStreet cut shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Jefferies Financial Group boosted their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Bank of America dropped their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Scotiabank upped their price target on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 18th. Finally, Raymond James upped their price target on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Franco-Nevada currently has a consensus rating of “Hold” and a consensus price target of $148.60.

Franco-Nevada Stock Performance

Shares of NYSE FNV traded up $1.21 during midday trading on Wednesday, hitting $121.61. 190,608 shares of the company’s stock traded hands, compared to its average volume of 726,446. 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 $23.39 billion, a price-to-earnings ratio of -49.54, a price-to-earnings-growth ratio of 6.29 and a beta of 0.71. The firm has a fifty day moving average of $115.84 and a 200 day moving average of $115.30.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The firm had revenue of $303.30 million during the quarter. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. On average, equities analysts anticipate that Franco-Nevada Co. will post 2.97 earnings per share for the current year.

Franco-Nevada 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.