Raymond James & Associates Acquires 12,658 Shares of Franco Nevada Corp (NYSE:FNV)

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Raymond James & Associates grew its holdings in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 8.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 162,721 shares of the basic materials company’s stock after acquiring an additional 12,658 shares during the quarter. Raymond James & Associates owned 0.09% of Franco Nevada worth $22,734,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FNV. First Trust Advisors LP bought a new stake in shares of Franco Nevada in the first quarter valued at about $732,000. Guggenheim Capital LLC lifted its position in Franco Nevada by 24.0% during the fourth quarter. Guggenheim Capital LLC now owns 72,888 shares of the basic materials company’s stock worth $7,529,000 after purchasing an additional 14,116 shares during the period. Cubist Systematic Strategies LLC lifted its position in Franco Nevada by 106.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 11,980 shares of the basic materials company’s stock worth $1,237,000 after purchasing an additional 6,180 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in Franco Nevada by 12.3% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,383 shares of the basic materials company’s stock worth $1,371,000 after purchasing an additional 1,469 shares during the period. Finally, Geode Capital Management LLC lifted its position in Franco Nevada by 13.6% during the fourth quarter. Geode Capital Management LLC now owns 276,156 shares of the basic materials company’s stock worth $28,673,000 after purchasing an additional 33,026 shares during the period. 67.43% of the stock is owned by institutional investors.

Shares of NYSE FNV opened at $159.85 on Friday. The company has a market cap of $30.02 billion, a price-to-earnings ratio of 76.84, a PEG ratio of 17.27 and a beta of 0.57. Franco Nevada Corp has a 12 month low of $77.18 and a 12 month high of $165.98. The stock has a 50-day moving average price of $142.77 and a two-hundred day moving average price of $125.65.

Franco Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. Franco Nevada had a return on equity of 7.85% and a net margin of 19.91%. The company had revenue of $240.50 million during the quarter, compared to the consensus estimate of $237.92 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The firm’s revenue was up 33.6% compared to the same quarter last year. As a group, equities research analysts forecast that Franco Nevada Corp will post 2.28 EPS for the current year.

FNV has been the subject of several recent analyst reports. Raymond James upped their price objective on shares of Franco Nevada from $146.00 to $151.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Barclays upped their price objective on shares of Franco Nevada from $91.00 to $97.00 and gave the stock an “underweight” rating in a research report on Monday, July 20th. Canaccord Genuity reaffirmed a “buy” rating on shares of Franco Nevada in a research report on Tuesday, July 21st. Credit Suisse Group reaffirmed a “hold” rating and set a $130.00 price objective on shares of Franco Nevada in a research report on Wednesday. Finally, BMO Capital Markets upped their price objective on shares of Franco Nevada from $154.00 to $158.00 and gave the stock a “market perform” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Franco Nevada presently has an average rating of “Hold” and a consensus target price of $151.54.

About Franco Nevada

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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