Franco Nevada Corp (FNV) Valuation Rose While Vertex One Asset Management INC Decreased Position by $5.92 Million

March 23, 2018 - By Ellis Scott

John Thiessen decreased its stake in Franco Nevada Corp (FNV) by 23.8% based on its latest 2017Q3 regulatory filing with the SEC. Vertex One Asset Management Inc sold 76,900 shares as the company’s stock rose 8.53% with the market. The hedge fund run by John Thiessen held 246,158 shares of the precious metals company at the end of 2017Q3, valued at $19.07 million, down from 323,058 at the end of the previous reported quarter. Vertex One Asset Management Inc who had been investing in Franco Nevada Corp for a number of months, seems to be less bullish one the $12.68B market cap company. The stock increased 1.64% or $1.12 during the last trading session, reaching $69.28. About 301,375 shares traded. Franco-Nevada Corporation (NYSE:FNV) has risen 12.51% since March 23, 2017 and is uptrending. It has underperformed by 4.19% the S&P500.

Vertex One Asset Management Inc, which manages about $613.15 million US Long portfolio, upped its stake in Time Warner Inc (NYSE:TWX) by 80,000 shares to 242,060 shares, valued at $24.80 million in 2017Q3, according to the filing.

Analysts await Franco-Nevada Corporation (NYSE:FNV) to report earnings on May, 8. They expect $0.28 earnings per share, up 12.00 % or $0.03 from last year’s $0.25 per share. FNV’s profit will be $51.25 million for 61.86 P/E if the $0.28 EPS becomes a reality. After $0.28 actual earnings per share reported by Franco-Nevada Corporation for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

Franco-Nevada Corporation (NYSE:FNV) Ratings Coverage

Among 17 analysts covering Franco-Nevada Corp (NYSE:FNV), 7 have Buy rating, 1 Sell and 9 Hold. Therefore 41% are positive. Franco-Nevada Corp has $96.0 highest and $47 lowest target. $71.75’s average target is 3.57% above currents $69.28 stock price. Franco-Nevada Corp had 36 analyst reports since August 11, 2015 according to SRatingsIntel. The firm has “Underweight” rating given on Tuesday, November 10 by Barclays Capital. Canaccord Genuity upgraded the shares of FNV in report on Tuesday, November 15 to “Buy” rating. As per Wednesday, October 26, the company rating was initiated by Desjardins Securities. On Tuesday, December 20 the stock rating was downgraded by Deutsche Bank to “Hold”. RBC Capital Markets maintained the shares of FNV in report on Monday, August 24 with “Outperform” rating. Deutsche Bank initiated the shares of FNV in report on Friday, December 11 with “Hold” rating. TD Securities upgraded the shares of FNV in report on Thursday, October 8 to “Action List Buy” rating. The company was upgraded on Friday, September 9 by Deutsche Bank. The firm has “Buy” rating by Canaccord Genuity given on Tuesday, August 11. The firm has “Buy” rating by Clarkson Capital given on Tuesday, February 16.

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