Franco-Nevada Corporation $FNV Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 4.0% during the third quarter, HoldingsChannel.com reports. The fund owned 110,563 shares of the basic materials company’s stock after selling 4,665 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Franco-Nevada were worth $26,371,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. EdgePoint Investment Group Inc. increased its stake in Franco-Nevada by 3.3% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,461,224 shares of the basic materials company’s stock valued at $857,196,000 after purchasing an additional 110,222 shares in the last quarter. Deutsche Bank AG purchased a new stake in Franco-Nevada during the second quarter worth $372,435,000. Amundi boosted its position in Franco-Nevada by 4.4% during the first quarter. Amundi now owns 1,191,417 shares of the basic materials company’s stock worth $294,340,000 after purchasing an additional 50,455 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Franco-Nevada during the second quarter worth $254,515,000. Finally, TD Waterhouse Canada Inc. boosted its position in Franco-Nevada by 3.6% during the third quarter. TD Waterhouse Canada Inc. now owns 846,399 shares of the basic materials company’s stock worth $196,535,000 after purchasing an additional 29,092 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings raised Franco-Nevada from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Royal Bank Of Canada lifted their price target on Franco-Nevada from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Finally, Zacks Research raised Franco-Nevada from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus target price of $275.30.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $248.41 on Thursday. The firm’s 50-day moving average is $248.48 and its two-hundred day moving average is $240.07. The company has a market capitalization of $47.92 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 2.97 and a beta of 0.34. Franco-Nevada Corporation has a 12-month low of $188.47 and a 12-month high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, November 11th. The basic materials company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.12. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The business had revenue of $549.30 million during the quarter, compared to analysts’ expectations of $568.44 million. During the same period last year, the company posted $1.43 EPS. The company’s revenue was up 12.6% on a year-over-year basis. On average, analysts forecast that Franco-Nevada Corporation will post 7.40 EPS for the current fiscal year.

Franco-Nevada Company Profile

Franco-Nevada is a Toronto-based company that provides financing to mining and energy businesses in exchange for royalties, streams and other interests in production. Rather than operating mines itself, it gives partners capital and receives a share of revenue or future output from their projects. The company’s portfolio is focused on gold and other precious metals, and also includes interests in other minerals and energy assets, including oil and gas. Its projects and counterparties span multiple regions, including North and South America, Africa, Australia and Europe.