Franco-Nevada Corporation $FNV Holdings Trimmed by Hsbc Holdings PLC

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 trimmed its holdings in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 17.4% during the first quarter, according to the company in its most recent filing 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 period. Hsbc Holdings PLC owned about 0.08% of Franco-Nevada worth $23,147,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. raised its position in shares of Franco-Nevada by 1,583.3% in the 1st quarter. Bessemer Group Inc. now owns 13,130 shares of the basic materials company's stock valued at $2,067,000 after purchasing an additional 12,350 shares in the last quarter. St. James Investment Company LLC raised its position in shares of Franco-Nevada by 29.3% during the 1st quarter. St. James Investment Company LLC now owns 219,988 shares of the basic materials company's stock valued at $34,661,000 after acquiring an additional 49,907 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Franco-Nevada by 36.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company's stock valued at $9,200,000 after acquiring an additional 15,483 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Franco-Nevada during the 1st quarter valued at approximately $265,000. Finally, Fullcircle Wealth LLC raised its position in shares of Franco-Nevada by 25.7% during the 1st quarter. Fullcircle Wealth LLC now owns 8,964 shares of the basic materials company's stock valued at $1,531,000 after acquiring an additional 1,835 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FNV shares. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. Royal Bank Of Canada upped their price target on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Zacks Research downgraded Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. BMO Capital Markets restated an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Finally, TD Securities upped their price objective on Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $178.88.

Franco-Nevada Stock Performance

Shares of NYSE:FNV traded down $1.04 on Thursday, hitting $184.75. The company's stock had a trading volume of 215,377 shares, compared to its average volume of 821,164. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $186.41. The company has a market capitalization of $35.60 billion, a price-to-earnings ratio of 45.40, a price-to-earnings-growth ratio of 2.48 and a beta of 0.36. The stock's 50-day moving average is $167.08 and its two-hundred day moving average is $161.21.

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

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.52 annualized dividend and a yield of 0.8%. Franco-Nevada's dividend payout ratio (DPR) is currently 37.35%.

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.