Franco-Nevada Corporation $FNV Stake Lessened by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 32.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,848 shares of the basic materials company’s stock after selling 48,436 shares during the period. Hsbc Holdings PLC owned 0.05% of Franco-Nevada worth $16,223,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FNV. Bank of Nova Scotia Trust Co. raised its position in shares of Franco-Nevada by 2.1% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 72,973 shares of the basic materials company’s stock valued at $11,962,000 after acquiring an additional 1,523 shares in the last quarter. Groupama Asset Managment lifted its position in shares of Franco-Nevada by 25.0% in the 2nd quarter. Groupama Asset Managment now owns 275,481 shares of the basic materials company’s stock worth $44,441,000 after buying an additional 55,096 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in shares of Franco-Nevada by 11.1% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 153,061 shares of the basic materials company’s stock valued at $25,082,000 after buying an additional 15,352 shares during the period. Russell Investments Group Ltd. grew its position in shares of Franco-Nevada by 10.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 102,075 shares of the basic materials company’s stock valued at $16,725,000 after buying an additional 9,653 shares during the last quarter. Finally, Laurel Wealth Advisors LLC grew its position in shares of Franco-Nevada by 16,292.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 65,568 shares of the basic materials company’s stock valued at $10,748,000 after buying an additional 65,168 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

FNV has been the subject of a number of research reports. Wall Street Zen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. TD Securities reduced their price objective on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a research report on Wednesday, November 5th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Franco-Nevada in a report on Tuesday, November 25th. Finally, Zacks Research raised shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and an average target price of $224.86.

Franco-Nevada Stock Performance

NYSE:FNV opened at $203.09 on Wednesday. The stock has a market cap of $39.15 billion, a price-to-earnings ratio of 42.58, a PEG ratio of 1.60 and a beta of 0.46. Franco-Nevada Corporation has a 1 year low of $114.81 and a 1 year high of $225.63. The business has a fifty day moving average of $201.67 and a 200-day moving average of $183.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. The business had revenue of $487.70 million for the quarter, compared to analysts’ expectations of $448.51 million. Franco-Nevada had a net margin of 59.48% and a return on equity of 13.94%. The company’s revenue was up 76.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 earnings per share. On average, equities research analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $1.52 annualized dividend and a yield of 0.7%. Franco-Nevada’s payout ratio is presently 31.87%.

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.