Annex Advisory Services LLC Acquires 66,432 Shares of Franco-Nevada Corporation $FNV

Annex Advisory Services LLC increased its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 70.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,605 shares of the basic materials company’s stock after purchasing an additional 66,432 shares during the quarter. Annex Advisory Services LLC’s holdings in Franco-Nevada were worth $33,477,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Crescent Grove Advisors LLC bought a new stake in shares of Franco-Nevada in the 4th quarter valued at about $489,000. PKO Investment Management Joint Stock Co grew its position in Franco-Nevada by 11.4% during the 4th quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company’s stock worth $14,519,000 after acquiring an additional 7,150 shares during the last quarter. Bank of Nova Scotia grew its position in Franco-Nevada by 5.1% during the 1st quarter. Bank of Nova Scotia now owns 485,345 shares of the basic materials company’s stock worth $120,146,000 after acquiring an additional 23,587 shares during the last quarter. Oxbow Advisors LLC increased its stake in Franco-Nevada by 76.0% in the 4th quarter. Oxbow Advisors LLC now owns 35,332 shares of the basic materials company’s stock worth $7,324,000 after purchasing an additional 15,260 shares during the period. Finally, Moran Wealth Management LLC increased its stake in Franco-Nevada by 26.7% in the 4th quarter. Moran Wealth Management LLC now owns 10,457 shares of the basic materials company’s stock worth $2,168,000 after purchasing an additional 2,203 shares during the period. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Up 0.1%

NYSE:FNV opened at $241.06 on Wednesday. The firm’s fifty day simple moving average is $215.32 and its 200 day simple moving average is $235.65. The stock has a market cap of $46.49 billion, a P/E ratio of 33.95, a price-to-earnings-growth ratio of 2.03 and a beta of 0.35. Franco-Nevada Corporation has a twelve month low of $173.39 and a twelve month high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The company had revenue of $580.90 million during the quarter, compared to the consensus estimate of $616.66 million. During the same quarter last year, the company posted $1.24 earnings per share. The firm’s revenue for the quarter was up 57.3% compared to the same quarter last year. On average, analysts expect that Franco-Nevada Corporation will post 8.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FNV shares. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective for the company in a research note on Wednesday, May 20th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. HC Wainwright reaffirmed a “buy” rating and issued a $305.00 target price on shares of Franco-Nevada in a research note on Wednesday, May 13th. Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Finally, UBS Group dropped their price target on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $273.40.

Franco-Nevada Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.