M&G Plc Has $192.79 Million Stock Position in Franco-Nevada Co. (NYSE:FNV)

M&G Plc lowered its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 12.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,627,862 shares of the basic materials company’s stock after selling 222,009 shares during the quarter. Franco-Nevada comprises approximately 1.1% of M&G Plc’s holdings, making the stock its 19th largest holding. M&G Plc owned 0.85% of Franco-Nevada worth $192,790,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Mather Group LLC. acquired a new position in Franco-Nevada during the 2nd quarter valued at $33,000. Allworth Financial LP raised its stake in Franco-Nevada by 5,750.0% during the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 345 shares during the last quarter. Fortis Group Advisors LLC raised its stake in Franco-Nevada by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 176 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Franco-Nevada by 37.1% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock valued at $52,000 after buying an additional 119 shares during the period. Finally, Hillsdale Investment Management Inc. increased its holdings in Franco-Nevada by 33.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after buying an additional 110 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

Shares of FNV traded up $1.12 during trading hours on Tuesday, hitting $125.04. The stock had a trading volume of 432,583 shares, compared to its average volume of 657,661. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $146.43. The company’s fifty day moving average is $122.01 and its two-hundred day moving average is $118.59. The stock has a market capitalization of $24.06 billion, a price-to-earnings ratio of -49.77, a P/E/G ratio of 21.14 and a beta of 0.74.

Analysts Set New Price Targets

Several brokerages have issued reports on FNV. Scotiabank boosted their price target on shares of Franco-Nevada from $140.00 to $141.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. HC Wainwright boosted their price target on shares of Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a report on Monday, May 6th. Jefferies Financial Group boosted their price target on shares of Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a report on Friday, July 12th. Finally, Bank of America boosted their price target on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Franco-Nevada presently has a consensus rating of “Hold” and an average target price of $152.33.

Franco-Nevada Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.