Franco-Nevada Corporation $FNV Shares Sold by Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. lessened its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 39.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,000 shares of the basic materials company’s stock after selling 4,500 shares during the quarter. Franco-Nevada accounts for approximately 3.1% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.’s portfolio, making the stock its 14th biggest position. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.’s holdings in Franco-Nevada were worth $1,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Crescent Grove Advisors LLC purchased a new position in Franco-Nevada in the fourth quarter worth approximately $489,000. PKO Investment Management Joint Stock Co increased its position in shares of Franco-Nevada by 11.4% in the 4th quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company’s stock valued at $14,519,000 after purchasing an additional 7,150 shares during the last quarter. Annex Advisory Services LLC increased its position in shares of Franco-Nevada by 4.9% in the 4th quarter. Annex Advisory Services LLC now owns 199,972 shares of the basic materials company’s stock valued at $41,450,000 after purchasing an additional 9,336 shares during the last quarter. Oxbow Advisors LLC raised its holdings in shares of Franco-Nevada by 76.0% in the 4th quarter. Oxbow Advisors LLC now owns 35,332 shares of the basic materials company’s stock valued at $7,324,000 after purchasing an additional 15,260 shares in the last quarter. Finally, Bank of Nova Scotia raised its holdings in shares of Franco-Nevada by 5.1% in the 1st quarter. Bank of Nova Scotia now owns 485,345 shares of the basic materials company’s stock valued at $120,146,000 after purchasing an additional 23,587 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Trading Up 0.1%

Shares of NYSE:FNV opened at $241.06 on Wednesday. The company has a market capitalization of $46.49 billion, a PE ratio of 33.95, a P/E/G ratio of 2.03 and a beta of 0.35. Franco-Nevada Corporation has a twelve month low of $173.39 and a twelve month high of $285.67. The firm has a 50 day simple moving average of $215.32 and a 200-day simple moving average of $235.65.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The company had revenue of $580.90 million during the quarter, compared to analysts’ expectations of $616.66 million. During the same period last year, the business earned $1.24 earnings per share. The company’s quarterly revenue was up 57.3% on a year-over-year basis. As a group, equities research analysts predict that Franco-Nevada Corporation will post 8.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on FNV shares. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target on the stock in a research note on Wednesday, May 20th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and decreased their price target for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. Zacks Research cut Franco-Nevada from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Wall Street Zen cut Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $273.40.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.