Hsbc Holdings PLC Cuts Stock Holdings in Franco-Nevada Corporation $FNV

Key Points

• Hsbc Holdings PLC reduced its stake in Franco-Nevada Corporation by 17.4% during Q1, now owning approximately 0.08% of the company, valued at $23.15 million.
• Franco-Nevada has a market capitalization of $35.63 billion and recently reported a quarterly earnings per share (EPS) of $1.24, exceeding analyst expectations.
• The company has declared a quarterly dividend of $0.38 per share, which will be paid on September 25th, representing an annual yield of 0.8%.

Hsbc Holdings PLC decreased its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 17.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,284 shares of the basic materials company's stock after selling 30,929 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of Franco-Nevada worth $23,147,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FNV. EdgePoint Investment Group Inc. raised its stake in shares of Franco-Nevada by 49.9% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock valued at $582,100,000 after acquiring an additional 1,650,358 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Franco-Nevada by 198.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company's stock valued at $268,280,000 after acquiring an additional 1,133,373 shares during the period. BLI Banque de Luxembourg Investments purchased a new stake in shares of Franco-Nevada in the fourth quarter valued at $52,857,000. Two Sigma Advisers LP raised its stake in shares of Franco-Nevada by 40.8% in the fourth quarter. Two Sigma Advisers LP now owns 1,349,300 shares of the basic materials company's stock valued at $158,664,000 after acquiring an additional 391,000 shares during the period. Finally, Tidal Investments LLC bought a new position in shares of Franco-Nevada in the fourth quarter worth about $29,500,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Performance

FNV stock traded up $2.04 during trading on Friday, reaching $186.50. The company had a trading volume of 121,730 shares, compared to its average volume of 818,127. The firm has a 50-day simple moving average of $167.41 and a 200-day simple moving average of $161.50. The company has a market cap of $35.94 billion, a price-to-earnings ratio of 45.77, a price-to-earnings-growth ratio of 2.48 and a beta of 0.36. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $186.46.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The company had revenue of $369.40 million during the quarter, compared to analysts' expectations of $382.70 million. During the same period last year, the business earned $0.75 EPS. Franco-Nevada's revenue for the quarter was up 42.0% on a year-over-year basis. Sell-side analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, September 11th. Franco-Nevada's payout ratio is presently 37.35%.

Analyst Ratings Changes

A number of research firms have recently commented on FNV. TD Securities upped their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a report on Tuesday, August 12th. Raymond James Financial increased their target price on shares of Franco-Nevada from $186.00 to $188.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Royal Bank Of Canada increased their target price on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Finally, HC Wainwright raised their price target on shares of Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $178.88.

Franco-Nevada Company 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.