Plato Investment Management Ltd Trims Stake in Franco-Nevada Corporation $FNV

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 trimmed its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 52.8% during the 1st quarter, according to the company in its most recent disclosure 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 period. Plato Investment Management Ltd's holdings in Franco-Nevada were worth $1,118,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. increased its holdings in shares of Franco-Nevada by 10.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 683 shares of the basic materials company's stock worth $108,000 after buying an additional 64 shares during the last quarter. Confluence Investment Management LLC grew its position in Franco-Nevada by 1.5% in the first quarter. Confluence Investment Management LLC now owns 5,874 shares of the basic materials company's stock worth $926,000 after acquiring an additional 84 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Franco-Nevada by 0.5% in the first quarter. Public Sector Pension Investment Board now owns 18,550 shares of the basic materials company's stock valued at $2,917,000 after acquiring an additional 100 shares during the last quarter. Trust Co. of Vermont raised its position in Franco-Nevada by 10.0% during the first quarter. Trust Co. of Vermont now owns 1,265 shares of the basic materials company's stock valued at $199,000 after purchasing an additional 115 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its position in Franco-Nevada by 100.0% during 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 in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Trading Up 1.4%

Shares of NYSE:FNV opened at $198.81 on Thursday. The company has a 50-day moving average price of $172.51 and a 200-day moving average price of $164.72. The company has a market cap of $38.31 billion, a price-to-earnings ratio of 48.85, a price-to-earnings-growth ratio of 2.62 and a beta of 0.41. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $198.91.

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 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.14. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The business had revenue of $369.40 million during the quarter, compared to analyst estimates of $382.70 million. During the same quarter in the prior year, the company posted $0.75 EPS. Franco-Nevada's quarterly revenue was up 42.0% compared to the same quarter last year. As a group, research analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

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

Analyst Upgrades and Downgrades

FNV has been the subject of a number of recent research reports. CIBC restated an "outperform" rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Wall Street Zen lowered shares of Franco-Nevada from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. BMO Capital Markets reissued an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. TD Securities increased their target price on Franco-Nevada from $182.00 to $184.00 and gave the company a "hold" rating in a report on Tuesday, August 12th. Finally, Scotiabank lifted their price target on Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $178.88.

About Franco-Nevada

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.