Franco-Nevada Corporation $FNV Stake Decreased by Autumn Glory Partners LLC

Autumn Glory Partners LLC reduced its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 3.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,000 shares of the basic materials company’s stock after selling 2,000 shares during the period. Franco-Nevada makes up about 3.8% of Autumn Glory Partners LLC’s holdings, making the stock its 2nd largest position. Autumn Glory Partners LLC’s holdings in Franco-Nevada were worth $11,193,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. GAMMA Investing LLC increased its position in shares of Franco-Nevada by 112.3% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after buying an additional 64 shares in the last quarter. Burkett Financial Services LLC purchased a new stake in shares of Franco-Nevada in the 3rd quarter worth about $28,000. Private Trust Co. NA purchased a new stake in shares of Franco-Nevada in the 4th quarter worth about $29,000. Smartleaf Asset Management LLC grew its stake in Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares during the last quarter. Finally, Stephens Consulting LLC acquired a new stake in Franco-Nevada in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FNV. HC Wainwright raised their price objective on shares of Franco-Nevada from $285.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Canaccord Genuity Group downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, February 4th. Finally, UBS Group restated a “buy” rating and issued a $310.00 price objective on shares of Franco-Nevada in a research report on Friday, January 30th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $257.25.

Franco-Nevada Trading Down 1.7%

Shares of Franco-Nevada stock opened at $257.98 on Tuesday. The business’s fifty day moving average price is $254.90 and its 200 day moving average price is $228.02. Franco-Nevada Corporation has a twelve month low of $152.89 and a twelve month high of $285.67. The stock has a market capitalization of $49.74 billion, a P/E ratio of 44.79, a PEG ratio of 2.80 and a beta of 0.47.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.18. The firm had revenue of $597.30 million for the quarter, compared to analysts’ expectations of $542.02 million. Franco-Nevada had a net margin of 61.01% and a return on equity of 15.62%. Franco-Nevada’s revenue was up 86.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 earnings per share. As a group, sell-side analysts predict that Franco-Nevada Corporation will post 7.81 EPS for the current year.

Franco-Nevada Company Profile

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.