Tocqueville Asset Management L.P. Has $110.63 Million Holdings in Franco-Nevada Corporation (FNV)
Tocqueville Asset Management L.P. lowered its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,427,998 shares of the basic materials company’s stock after selling 112,300 shares during the quarter. Franco-Nevada Corporation comprises approximately 1.3% of Tocqueville Asset Management L.P.’s investment portfolio, making the stock its 6th biggest holding. Tocqueville Asset Management L.P. owned 0.77% of Franco-Nevada Corporation worth $110,629,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the business. Wright Investors Service Inc. acquired a new position in shares of Franco-Nevada Corporation during the third quarter valued at approximately $245,000. Crossmark Global Holdings Inc. acquired a new position in shares of Franco-Nevada Corporation during the third quarter valued at approximately $2,065,000. Bennicas & Associates Inc. acquired a new position in shares of Franco-Nevada Corporation during the third quarter valued at approximately $1,906,000. Highstreet Asset Management Inc. increased its stake in shares of Franco-Nevada Corporation by 39.2% during the third quarter. Highstreet Asset Management Inc. now owns 56,992 shares of the basic materials company’s stock valued at $4,415,000 after acquiring an additional 16,062 shares during the period. Finally, Korea Investment CORP increased its stake in shares of Franco-Nevada Corporation by 8.5% during the third quarter. Korea Investment CORP now owns 12,190 shares of the basic materials company’s stock valued at $942,000 after acquiring an additional 956 shares during the period. Institutional investors own 60.01% of the company’s stock.
A number of analysts recently weighed in on FNV shares. BidaskClub cut shares of Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Wednesday, July 12th. Barclays PLC reduced their target price on shares of Franco-Nevada Corporation from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday, July 13th. Credit Suisse Group set a $78.00 target price on shares of Franco-Nevada Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, TD Securities raised their target price on shares of Franco-Nevada Corporation from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $81.65.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. Franco-Nevada Corporation had a net margin of 21.26% and a return on equity of 4.39%. The business had revenue of $163.60 million during the quarter, compared to analysts’ expectations of $164.62 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis.
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Franco-Nevada Corporation Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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