Van Eck Associates Corp buys $425.5 Million stake in Franco-Nevada Corporation (FNV)

Franco-Nevada Corporation (FNV) : Van Eck Associates Corp scooped up 1,312,612 additional shares in Franco-Nevada Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 6,281,258 shares of Franco-Nevada Corporation which is valued at $425.5 Million.Franco-Nevada Corporation makes up approximately 2.51% of Van Eck Associates Corp’s portfolio.

Other Hedge Funds, Including , Bridgewater Associates Lp reduced its stake in FNV by selling 22,600 shares or 13.21% in the most recent quarter. The Hedge Fund company now holds 148,428 shares of FNV which is valued at $10.1 Million. Franco-Nevada Corporation makes up approx 0.13% of Bridgewater Associates Lp’s portfolio. Edmond De Rothschild (europe) added FNV to its portfolio by purchasing 111,486 company shares during the most recent quarter which is valued at $7.6 Million. Franco-Nevada Corporation makes up approx 3.92% of Edmond De Rothschild (europe)’s portfolio.Alps Advisors Inc boosted its stake in FNV in the latest quarter, The investment management firm added 73,174 additional shares and now holds a total of 393,556 shares of Franco-Nevada Corporation which is valued at $26.7 Million. Franco-Nevada Corporation makes up approx 0.26% of Alps Advisors Inc’s portfolio.Td Asset Management Inc boosted its stake in FNV in the latest quarter, The investment management firm added 347,525 additional shares and now holds a total of 3,483,272 shares of Franco-Nevada Corporation which is valued at $244.7 Million. Franco-Nevada Corporation makes up approx 0.46% of Td Asset Management Inc’s portfolio.New Harbor Financial Group boosted its stake in FNV in the latest quarter, The investment management firm added 1,540 additional shares and now holds a total of 8,390 shares of Franco-Nevada Corporation which is valued at $589,314. Franco-Nevada Corporation makes up approx 0.84% of New Harbor Financial Group’s portfolio.

Franco-Nevada Corporation opened for trading at $61.67 and hit $64.05 on the upside on Wednesday, eventually ending the session at $63.76, with a gain of 3.19% or 1.97 points. The heightened volatility saw the trading volume jump to 9,12,753 shares. Company has a market cap of $11,334 M.

On the company’s financial health, Franco-Nevada Corporation reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.15. The company had revenue of $132.00 million for the quarter, compared to analysts expectations of $130.08 million. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS.

Many Wall Street Analysts have commented on Franco-Nevada Corporation. Franco-Nevada Corporation was Downgraded by Goldman to ” Sell” on May 11, 2016. Franco-Nevada Corporation was Downgraded by TD Securities to ” Hold” on Apr 21, 2016. Franco-Nevada Corporation was Downgraded by UBS to ” Neutral” on Mar 28, 2016.

Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company’s business model provides investors with gold price and exploration optionality. The Company has a diversified portfolio of royalties and streams by commodity geography revenue type and stage of project. Its assets include Gold (United States) Gold (Canada) Gold (Australia) Gold (Rest of World) Platinum Group Metals Other Minerals and Oil and Gas. The Company’s projects under each of this location include Goldstrike complex Gold Quarry Marigold Pinson Sterling Sandman Robinson Sudbury basin Golden Highway Musselwhite Hemlo Hardrock Duketon Henty Red October Edna May Wiluna Palmarejo Sabodla Subika Edikan Cerro Moro Ity Gurupi Volcan Stillwater Complex Pandora Peculiar Knob Mt Keith King Vol Flying Fox Weyburn unit Midale unit Edson property and among others.

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