United Services Automobile Association lifted its position in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 100.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,000 shares of the basic materials company’s stock after acquiring an additional 60,000 shares during the quarter. United Services Automobile Association owned 0.06% of Franco Nevada worth $8,420,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in FNV. JPMorgan Chase & Co. boosted its stake in shares of Franco Nevada by 143.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,854,956 shares of the basic materials company’s stock worth $116,027,000 after acquiring an additional 1,094,236 shares in the last quarter. Capital World Investors boosted its stake in shares of Franco Nevada by 39.5% during the 3rd quarter. Capital World Investors now owns 2,648,758 shares of the basic materials company’s stock worth $165,695,000 after acquiring an additional 750,229 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Franco Nevada by 460.1% during the 4th quarter. Mackenzie Financial Corp now owns 700,465 shares of the basic materials company’s stock worth $49,152,000 after acquiring an additional 575,408 shares in the last quarter. Elephas Investment Management Ltd purchased a new stake in shares of Franco Nevada during the 4th quarter worth approximately $30,135,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Franco Nevada by 15.8% during the 3rd quarter. Renaissance Technologies LLC now owns 2,846,306 shares of the basic materials company’s stock worth $178,036,000 after acquiring an additional 388,106 shares in the last quarter. 66.47% of the stock is currently owned by institutional investors and hedge funds.
FNV stock opened at $76.75 on Friday. Franco Nevada Corp has a 1 year low of $58.26 and a 1 year high of $78.82. The company has a market capitalization of $14.36 billion, a P/E ratio of 71.06, a P/E/G ratio of 14.96 and a beta of 0.13.
Several equities research analysts have recently commented on FNV shares. Royal Bank of Canada reissued a “buy” rating and set a $118.00 price target on shares of Franco Nevada in a research note on Wednesday, December 12th. Zacks Investment Research reissued a “hold” rating on shares of Franco Nevada in a research note on Monday, December 31st. ValuEngine raised Franco Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. BMO Capital Markets reissued a “hold” rating on shares of Franco Nevada in a research note on Monday, December 17th. Finally, Raymond James reissued an “outperform” rating and set a $88.00 price target on shares of Franco Nevada in a research note on Monday, February 11th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $85.67.
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Franco Nevada Company Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.
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