14,892 Shares in Franco-Nevada Co. (NYSE:FNV) Bought by Plato Investment Management Ltd

Plato Investment Management Ltd purchased a new position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,892 shares of the basic materials company's stock, valued at approximately $1,850,000.

A number of other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Franco-Nevada by 0.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company's stock valued at $1,456,208,000 after purchasing an additional 64,429 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Franco-Nevada by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company's stock worth $1,022,452,000 after acquiring an additional 151,566 shares during the period. Vanguard Group Inc. increased its holdings in shares of Franco-Nevada by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company's stock worth $878,696,000 after acquiring an additional 129,876 shares during the period. Capital World Investors lifted its position in Franco-Nevada by 2.7% in the 1st quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company's stock valued at $547,807,000 after purchasing an additional 120,367 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company's stock worth $433,538,000 after purchasing an additional 424,810 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Trading Down 1.1 %

Franco-Nevada stock traded down $1.28 during midday trading on Friday, reaching $113.94. The stock had a trading volume of 1,014,414 shares, compared to its average volume of 663,661. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $137.60. The firm's fifty day simple moving average is $126.29 and its two-hundred day simple moving average is $123.98.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $279.11 million. During the same period last year, the business earned $0.91 EPS. The business's quarterly revenue was down 10.9% on a year-over-year basis. Research analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 annualized dividend and a yield of 1.26%. Franco-Nevada's dividend payout ratio is presently -45.57%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FNV shares. Jefferies Financial Group reduced their price objective on Franco-Nevada from $137.00 to $136.00 and set a "hold" rating for the company in a research report on Thursday, October 17th. TD Cowen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. TD Securities upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. Bank of America downgraded shares of Franco-Nevada from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Finally, StockNews.com upgraded Franco-Nevada from a "sell" rating to a "hold" rating in a research report on Thursday, August 22nd. Four equities 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 an average 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.