Plato Investment Management Ltd Makes New Investment in Franco-Nevada Corporation $FNV

Plato Investment Management Ltd purchased a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 5,290 shares of the basic materials company’s stock, valued at approximately $1,097,000.

Several other institutional investors and hedge funds have also made changes to their positions in FNV. AQR Capital Management LLC acquired a new stake in Franco-Nevada in the first quarter worth approximately $241,000. NewEdge Advisors LLC increased its position in shares of Franco-Nevada by 16.7% during the 1st quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock valued at $1,038,000 after purchasing an additional 943 shares during the period. Intech Investment Management LLC increased its position in shares of Franco-Nevada by 118.3% during the 1st quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock valued at $1,460,000 after purchasing an additional 5,032 shares during the period. Acadian Asset Management LLC raised its stake in shares of Franco-Nevada by 800.0% in the 1st quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock worth $424,000 after buying an additional 2,400 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Franco-Nevada in the 2nd quarter worth $1,477,000. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Jefferies Financial Group decreased their target price 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. TD upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and dropped their price target for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and cut their price target for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. HC Wainwright restated a “buy” rating and set a $305.00 price objective on shares of Franco-Nevada in a research report on Wednesday, May 13th. Finally, National Bank Financial raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average target price of $273.40.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $232.88 on Wednesday. Franco-Nevada Corporation has a 52 week low of $173.39 and a 52 week high of $285.67. The firm has a market capitalization of $44.92 billion, a price-to-earnings ratio of 30.44, a P/E/G ratio of 2.14 and a beta of 0.35. The company has a 50 day moving average price of $216.58 and a 200 day moving average price of $234.73.

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

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 10th. Franco-Nevada’s payout ratio is presently 23.01%.

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.