Van Eck Associates Corp buys $609,082,663 stake in Franco-Nevada Corporation (FNV)

Franco-Nevada Corporation (FNV) : Van Eck Associates Corp scooped up 1,550,588 additional shares in Franco-Nevada Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 7,831,846 shares of Franco-Nevada Corporation which is valued at $609,082,663.Franco-Nevada Corporation makes up approximately 2.83% of Van Eck Associates Corp’s portfolio.

Other Hedge Funds, Including , Group One Trading added FNV to its portfolio by purchasing 57,753 company shares during the most recent quarter which is valued at $4,491,451. Franco-Nevada Corporation makes up approx 0.39% of Group One Trading’s portfolio. Trexquant Investment Lp added FNV to its portfolio by purchasing 25,324 company shares during the most recent quarter which is valued at $1,969,447. Franco-Nevada Corporation makes up approx 0.24% of Trexquant Investment Lp’s portfolio.Gabelli Funds boosted its stake in FNV in the latest quarter, The investment management firm added 57,000 additional shares and now holds a total of 553,200 shares of Franco-Nevada Corporation which is valued at $42,657,252. Franco-Nevada Corporation makes up approx 0.25% of Gabelli Funds’s portfolio.Prospera Financial Services Inc reduced its stake in FNV by selling 2,706 shares or 46.61% in the most recent quarter. The Hedge Fund company now holds 3,100 shares of FNV which is valued at $232,841. Franco-Nevada Corporation makes up approx 0.05% of Prospera Financial Services Inc’s portfolio.

Franco-Nevada Corporation opened for trading at $71.73 and hit $73.35 on the upside on Monday, eventually ending the session at $72.74, with a gain of 0.54% or 0.39 points. The heightened volatility saw the trading volume jump to 4,00,730 shares. Company has a market cap of $12,955 M.

On the company’s financial health, Franco-Nevada Corporation reported $0.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.20. The company had revenue of $150.90 million for the quarter, compared to analysts expectations of $148.77 million. The company’s revenue was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.

Many Wall Street Analysts have commented on Franco-Nevada Corporation. Franco-Nevada Corporation was Initiated by BofA/Merrill to “Buy” on Aug 9, 2016. Company shares were Reiterated by Barclays on Aug 8, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 75 from a previous price target of $65 .

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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