Franco-Nevada Corporation $FNV Shares Sold by Plato Investment Management Ltd

Key Points

• Plato Investment Management Ltd reduced its stake in Franco-Nevada Corporation by 52.8%, now holding 7,034 shares valued at approximately $1.12 million.
• Franco-Nevada reported a quarterly EPS of $1.24, exceeding analyst expectations, while revenue was 42% higher than the same quarter last year.
• The company announced a quarterly dividend of $0.38, equating to an annualized yield of 0.8%, with a dividend payout ratio of 37.35%.

Plato Investment Management Ltd lowered its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 52.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,034 shares of the basic materials company's stock after selling 7,858 shares during the quarter. Plato Investment Management Ltd's holdings in Franco-Nevada were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CX Institutional purchased a new stake in Franco-Nevada in the first quarter valued at approximately $30,000. Cullen Frost Bankers Inc. acquired a new position in shares of Franco-Nevada in the first quarter valued at approximately $32,000. Nexus Investment Management ULC acquired a new position in shares of Franco-Nevada in the first quarter valued at approximately $35,000. Hexagon Capital Partners LLC increased its holdings in shares of Franco-Nevada by 494.7% in the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 188 shares during the period. Finally, Golden State Wealth Management LLC increased its holdings in shares of Franco-Nevada by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.

Franco-Nevada Price Performance

Shares of NYSE FNV traded down $1.50 during mid-day trading on Tuesday, hitting $202.44. The company had a trading volume of 262,260 shares, compared to its average volume of 815,536. The firm's 50 day simple moving average is $174.71 and its two-hundred day simple moving average is $166.35. The stock has a market cap of $39.01 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 2.68 and a beta of 0.41. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $204.92.

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

Franco-Nevada Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FNV. Scotiabank boosted their target price on Franco-Nevada from $182.00 to $184.00 and gave the company a "sector perform" rating in a report on Tuesday, August 12th. Royal Bank Of Canada upped their price objective on Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. CIBC reaffirmed an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. HC Wainwright upped their price objective on Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Franco-Nevada has a consensus rating of "Moderate Buy" and an average target price of $178.88.

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.