Plato Investment Management Ltd Takes $1.85 Million Position in Franco-Nevada Co. (NYSE:FNV)

Plato Investment Management Ltd purchased a new position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,892 shares of the basic materials company’s stock, valued at approximately $1,850,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Franco-Nevada by 116.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,628 shares of the basic materials company’s stock worth $1,028,000 after purchasing an additional 4,637 shares during the period. M&G PLC boosted its position in Franco-Nevada by 3.2% in the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after buying an additional 51,996 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Franco-Nevada by 3,404.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock valued at $86,287,000 after buying an additional 706,919 shares during the last quarter. Avantax Advisory Services Inc. purchased a new position in Franco-Nevada in the 1st quarter valued at about $1,132,000. Finally, Janus Henderson Group PLC boosted its position in Franco-Nevada by 44.4% in the 1st quarter. Janus Henderson Group PLC now owns 63,540 shares of the basic materials company’s stock valued at $7,576,000 after buying an additional 19,551 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Performance

NYSE:FNV opened at $115.22 on Friday. The stock has a 50-day simple moving average of $126.29 and a 200 day simple moving average of $123.98. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $137.60. The company has a market capitalization of $22.18 billion, a price-to-earnings ratio of -36.46, a price-to-earnings-growth ratio of 19.40 and a beta of 0.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same period in the prior year, the business earned $0.91 EPS. The business’s revenue was down 10.9% on a year-over-year basis. On average, equities research analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.25%. Franco-Nevada’s dividend payout ratio is currently -45.57%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Scotiabank cut their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, HC Wainwright lifted their price target on Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.57.

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.