Waratah Capital Advisors Ltd. Cuts Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Waratah Capital Advisors Ltd. decreased its stake in shares of Franco-Nevada Co. (NYSE:FNVGet Rating) (TSE:FNV) by 32.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 206,058 shares of the basic materials company’s stock after selling 97,405 shares during the period. Franco-Nevada comprises about 0.4% of Waratah Capital Advisors Ltd.’s holdings, making the stock its 26th largest position. Waratah Capital Advisors Ltd.’s holdings in Franco-Nevada were worth $32,784,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. CWM LLC purchased a new position in Franco-Nevada in the fourth quarter worth $25,000. Prospera Financial Services Inc purchased a new position in shares of Franco-Nevada during the 1st quarter valued at $42,000. UMB Bank N A MO purchased a new position in shares of Franco-Nevada during the 4th quarter valued at $68,000. James Investment Research Inc. purchased a new position in shares of Franco-Nevada during the 1st quarter valued at $75,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Franco-Nevada by 1,812.0% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 478 shares of the basic materials company’s stock valued at $76,000 after buying an additional 453 shares during the last quarter. Hedge funds and other institutional investors own 75.52% of the company’s stock.

Franco-Nevada Price Performance

NYSE FNV traded down $0.95 during trading on Friday, reaching $128.24. The company’s stock had a trading volume of 524,563 shares, compared to its average volume of 615,053. The stock has a market capitalization of $24.56 billion, a PE ratio of 32.88, a P/E/G ratio of 9.06 and a beta of 0.62. The firm has a fifty day moving average of $134.28 and a 200 day moving average of $143.99. Franco-Nevada Co. has a one year low of $122.38 and a one year high of $169.32.

Franco-Nevada (NYSE:FNVGet Rating) (TSE:FNV) last announced its earnings results on Wednesday, May 4th. The basic materials company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02). The business had revenue of $338.80 million during the quarter, compared to the consensus estimate of $335.27 million. Franco-Nevada had a return on equity of 11.55% and a net margin of 55.96%. Franco-Nevada’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 earnings per share. Research analysts expect that Franco-Nevada Co. will post 3.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. KeyCorp dropped their price target on Franco-Nevada from $180.00 to $143.00 and set an “overweight” rating on the stock in a research report on Monday, July 18th. HC Wainwright decreased their price objective on Franco-Nevada from $180.00 to $144.00 and set a “buy” rating on the stock in a research note on Tuesday, July 19th. National Bank Financial decreased their price objective on Franco-Nevada from C$225.00 to C$205.00 in a research note on Thursday, July 21st. Barclays lowered Franco-Nevada from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $130.00 to $112.00 in a research note on Tuesday, July 19th. Finally, Stifel Nicolaus upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $172.00.

Franco-Nevada Profile

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Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, the United States, Canada, and internationally. It operates in two segments, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids.

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

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