Wahed Invest LLC Grows Position in Franco-Nevada Co. (NYSE:FNV)

Wahed Invest LLC increased its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 39.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,110 shares of the basic materials company’s stock after purchasing an additional 593 shares during the period. Wahed Invest LLC’s holdings in Franco-Nevada were worth $252,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FNV. Norges Bank purchased a new position in shares of Franco-Nevada during the 4th quarter worth about $221,351,000. M&G Plc purchased a new position in shares of Franco-Nevada during the 1st quarter worth about $219,971,000. Capital World Investors boosted its stake in shares of Franco-Nevada by 45.8% during the 4th quarter. Capital World Investors now owns 4,477,105 shares of the basic materials company’s stock worth $495,909,000 after purchasing an additional 1,405,731 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of Franco-Nevada by 68.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock worth $328,972,000 after purchasing an additional 1,117,523 shares during the period. Finally, First Eagle Investment Management LLC boosted its position in Franco-Nevada by 39.5% in the 4th quarter. First Eagle Investment Management LLC now owns 3,150,097 shares of the basic materials company’s stock valued at $348,940,000 after buying an additional 891,164 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Franco-Nevada Trading Down 1.5 %

Franco-Nevada stock traded down $1.96 during mid-day trading on Friday, reaching $125.11. 819,891 shares of the company traded hands, compared to its average volume of 663,664. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $146.43. The firm’s fifty day moving average is $122.17 and its two-hundred day moving average is $117.76.

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

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.