Plato Investment Management Ltd Lowers Stock Position in Franco-Nevada Corporation $FNV

Plato Investment Management Ltd trimmed its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 91.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 574 shares of the basic materials company’s stock after selling 6,460 shares during the period. Plato Investment Management Ltd’s holdings in Franco-Nevada were worth $127,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Smartleaf Asset Management LLC raised its position in Franco-Nevada by 27.6% in the third quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 54 shares in the last quarter. Spire Wealth Management grew its stake in shares of Franco-Nevada by 13.4% during the 3rd quarter. Spire Wealth Management now owns 475 shares of the basic materials company’s stock worth $106,000 after purchasing an additional 56 shares during the period. Versant Capital Management Inc increased its holdings in shares of Franco-Nevada by 19.6% in the 3rd quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 71 shares in the last quarter. Kiker Wealth Management LLC lifted its stake in shares of Franco-Nevada by 20.5% in the second quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 80 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in Franco-Nevada by 78.3% during the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock worth $34,000 after buying an additional 90 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Franco-Nevada in a report on Wednesday. Weiss Ratings lowered Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 26th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $228.00 price objective on shares of Franco-Nevada in a research note on Sunday, December 7th. UBS Group reaffirmed a “buy” rating and set a $310.00 price objective on shares of Franco-Nevada in a report on Friday, January 30th. Finally, TD Securities decreased their target price on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a research report on Wednesday, November 5th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Franco-Nevada presently has a consensus rating of “Hold” and a consensus price target of $245.00.

Franco-Nevada Stock Performance

FNV stock opened at $232.51 on Monday. The stock’s 50 day moving average price is $224.74 and its 200 day moving average price is $204.20. The firm has a market cap of $44.83 billion, a P/E ratio of 48.74, a PEG ratio of 1.25 and a beta of 0.47. Franco-Nevada Corporation has a 1 year low of $137.05 and a 1 year high of $273.55.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, March 12th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. Franco-Nevada’s dividend payout ratio is 31.87%.

Franco-Nevada Profile

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.