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Franco-Nevada Corporation (FNV): Insiders and Hedge Funds Aren’t Crazy About It

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Franco-Nevada Corporation (NYSE:FNV)

Thus, let’s analyze the latest info surrounding Franco-Nevada Corporation (NYSE:FNV).

What have hedge funds been doing with Franco-Nevada Corporation (NYSE:FNV)?

At Q2’s end, a total of 14 of the hedge funds we track were long in this stock, a change of 0% from one quarter earlier. With the smart money’s sentiment swirling, there exists a select group of notable hedge fund managers who were increasing their stakes substantially.

According to our 13F database, Matt McLennan’s First Eagle Investment Management had the most valuable position in Franco-Nevada Corporation (NYSE:FNV), worth close to $34.6 million, accounting for 0.1% of its total 13F portfolio. On First Eagle Investment Management’s heels is Horizon Asset Management, managed by Murray Stahl, which held a $25.1 million position; the fund has 0.4% of its 13F portfolio invested in the stock. Remaining peers with similar optimism include Jorge Paulo Lemann’s 3G Capital, Chuck Royce’s Royce & Associates and Anand Parekh’s Alyeska Investment Group.

Because Franco-Nevada Corporation (NYSE:FNV) has witnessed dropping sentiment from the smart money’s best and brightest, it’s safe to say that there was a specific group of fund managers that decided to sell off their entire stakes last quarter. It’s worth mentioning that John Thiessen’s Vertex One Asset Management dropped the biggest stake of the 450+ funds we key on, totaling close to $10 million in stock, and Matthew Tewksbury of Stevens Capital Management was right behind this move, as the fund dumped about $0.5 million worth. These transactions are intriguing to say the least, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

How are insiders trading Franco-Nevada Corporation (NYSE:FNV)?

Insider buying made by high-level executives is best served when the primary stock in question has experienced transactions within the past six months. Over the last six-month time period, Franco-Nevada Corporation (NYSE:FNV) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

We’ll also review the relationship between both of these indicators in other stocks similar to Franco-Nevada Corporation (NYSE:FNV). These stocks are Randgold Resources Ltd. (ADR) (NASDAQ:GOLD), Gold Fields Limited (ADR) (NYSE:GFI), Compania de Minas Buenaventura SA (ADR) (NYSE:BVN), Agnico-Eagle Mines Limited (USA) (NYSE:AEM), and Eldorado Gold Corp (USA) (NYSE:EGO). All of these stocks are in the gold industry and their market caps match FNV’s market cap.

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