Silvercrest Asset Management Group LLC Increases Stock Position in Franco-Nevada Co. (NYSE:FNV)

Silvercrest Asset Management Group LLC raised its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 14.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,591 shares of the basic materials company’s stock after purchasing an additional 1,080 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Franco-Nevada were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in FNV. Allworth Financial LP boosted its holdings in Franco-Nevada by 5,750.0% in the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 345 shares in the last quarter. Fortis Group Advisors LLC boosted its stake in shares of Franco-Nevada by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 176 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Franco-Nevada by 37.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 119 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Franco-Nevada by 33.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 110 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Franco-Nevada during the 1st quarter worth approximately $62,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Up 1.0 %

FNV stock opened at $127.12 on Wednesday. The business has a fifty day simple moving average of $122.08 and a 200-day simple moving average of $117.68. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $147.35. The company has a market cap of $24.46 billion, a price-to-earnings ratio of -51.05, a PEG ratio of 20.94 and a beta of 0.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $256.80 million during the quarter, compared to analysts’ expectations of $250.50 million. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 EPS. As a group, analysts expect that Franco-Nevada Co. will post 3.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FNV. Raymond James upped their target price on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Scotiabank upped their target price on Franco-Nevada from $140.00 to $141.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd. Jefferies Financial Group upped their target price on Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a research note on Friday, July 12th. HC Wainwright upped their target price on Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Bank of America upped their target price on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $152.33.

About Franco-Nevada

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.