5,290 Shares in Franco-Nevada Corporation $FNV Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd acquired a new stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,290 shares of the basic materials company’s stock, valued at approximately $1,097,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Franco-Nevada during the 4th quarter valued at $578,577,000. First Eagle Investment Management LLC grew its holdings in shares of Franco-Nevada by 26.5% during the 4th quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock valued at $1,062,037,000 after acquiring an additional 1,074,257 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Franco-Nevada by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock worth $1,542,402,000 after acquiring an additional 842,132 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Franco-Nevada by 100.2% in the fourth quarter. Capital Research Global Investors now owns 1,277,889 shares of the basic materials company’s stock worth $264,882,000 after acquiring an additional 639,493 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Franco-Nevada by 30.7% during the fourth quarter. Deutsche Bank AG now owns 1,889,414 shares of the basic materials company’s stock worth $391,638,000 after acquiring an additional 443,839 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Down 2.4%

Shares of FNV stock opened at $232.88 on Wednesday. Franco-Nevada Corporation has a 12 month low of $173.39 and a 12 month high of $285.67. The company has a market cap of $44.92 billion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 2.14 and a beta of 0.35. The business’s 50 day moving average is $216.58 and its two-hundred day moving average is $234.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The firm had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.Franco-Nevada’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 earnings per share. As a group, equities analysts expect that Franco-Nevada Corporation will post 7.6 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, September 10th. Franco-Nevada’s dividend payout ratio (DPR) is 23.01%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FNV shares. Zacks Research raised Franco-Nevada from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings lowered Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Jefferies Financial Group cut their price target on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research note on Monday, July 6th. UBS Group reduced their price target on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target for the company in a research note on Wednesday, May 20th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $273.40.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.