Franco-Nevada Corporation $FNV Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd lessened its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 91.8% in the third quarter, HoldingsChannel.com reports. 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 quarter.

Several other institutional investors and hedge funds have also modified their holdings of FNV. Smartleaf Asset Management LLC grew its stake in Franco-Nevada by 27.6% in the 3rd 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 during the period. Spire Wealth Management lifted 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 boosted its holdings in shares of Franco-Nevada by 19.6% during the third quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 71 shares during the last quarter. Kiker Wealth Management LLC boosted its holdings in shares of Franco-Nevada by 20.5% during the second quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 80 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in Franco-Nevada by 78.3% in the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $232.51 on Monday. The business’s 50-day simple moving average is $224.74 and its 200 day simple moving average is $204.20. The company 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 one year low of $137.05 and a one year high of $273.55.

Franco-Nevada Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. TD Securities dropped their price objective on shares of Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a research note on Wednesday, November 5th. HC Wainwright boosted their target price on shares of Franco-Nevada from $200.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $228.00 price target on shares of Franco-Nevada in a research note on Sunday, December 7th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday. Finally, Canaccord Genuity Group downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $245.00.

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.