Victory Capital Management Inc. Has $298.57 Million Stake in Franco-Nevada Co. (NYSE:FNV)

Victory Capital Management Inc. boosted its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,694,440 shares of the basic materials company’s stock after acquiring an additional 13,225 shares during the quarter. Victory Capital Management Inc. owned 1.40% of Franco-Nevada worth $298,571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FNV. FMR LLC increased its position in Franco-Nevada by 1.3% during the third quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock worth $2,211,558,000 after acquiring an additional 208,392 shares during the period. Massachusetts Financial Services Co. MA increased its position in Franco-Nevada by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,441,556 shares of the basic materials company’s stock worth $1,393,843,000 after acquiring an additional 31,642 shares during the period. Van ECK Associates Corp increased its position in Franco-Nevada by 9.9% during the fourth quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company’s stock worth $972,707,000 after acquiring an additional 789,070 shares during the period. Vanguard Group Inc. increased its position in Franco-Nevada by 1.6% during the third quarter. Vanguard Group Inc. now owns 7,104,384 shares of the basic materials company’s stock worth $948,364,000 after acquiring an additional 112,274 shares during the period. Finally, First Eagle Investment Management LLC increased its position in Franco-Nevada by 3.3% during the third quarter. First Eagle Investment Management LLC now owns 2,258,933 shares of the basic materials company’s stock worth $301,557,000 after acquiring an additional 71,226 shares during the period. 77.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FNV shares. Scotiabank boosted their price target on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 18th. Jefferies Financial Group upped their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Raymond James increased their price target 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. Bank of America reduced their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Finally, TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $148.60.

Franco-Nevada Stock Up 0.9 %

NYSE FNV traded up $1.03 during trading hours on Wednesday, reaching $121.43. The company’s stock had a trading volume of 219,613 shares, compared to its average volume of 727,011. The firm’s 50-day moving average price is $115.84 and its 200-day moving average price is $115.30. Franco-Nevada Co. has a 1 year low of $102.29 and a 1 year high of $161.25. The company has a market capitalization of $23.35 billion, a price-to-earnings ratio of -50.05, a PEG ratio of 6.29 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. The business had revenue of $303.30 million for the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. Equities research analysts anticipate that Franco-Nevada Co. will post 2.97 EPS for the current fiscal 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.