Plancorp LLC Sells 9,242 Shares of Franco-Nevada Co. (NYSE:FNV)

Plancorp LLC lowered its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 30.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,338 shares of the basic materials company’s stock after selling 9,242 shares during the quarter. Plancorp LLC’s holdings in Franco-Nevada were worth $2,529,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FNV. Allspring Global Investments Holdings LLC bought a new stake in shares of Franco-Nevada during the 2nd quarter worth approximately $276,446,000. Norges Bank purchased a new position in Franco-Nevada in the 4th quarter worth about $221,351,000. M&G Plc purchased a new stake in Franco-Nevada in the 1st quarter valued at about $219,971,000. Capital World Investors boosted its position in Franco-Nevada by 45.8% in the 4th quarter. Capital World Investors now owns 4,477,105 shares of the basic materials company’s stock valued at $495,909,000 after buying an additional 1,405,731 shares during the period. Finally, EdgePoint Investment Group Inc. increased its position in shares of Franco-Nevada by 68.1% during the first quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock worth $328,972,000 after acquiring an additional 1,117,523 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FNV has been the topic of several research analyst reports. Scotiabank increased their price objective on Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. HC Wainwright reiterated a “buy” rating and set a $185.00 target price on shares of Franco-Nevada in a report on Friday, August 16th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and an average price target of $152.75.

Franco-Nevada Price Performance

Shares of FNV opened at $124.97 on Tuesday. The company’s fifty day moving average price is $123.49 and its 200-day moving average price is $120.99. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $145.74. The firm has a market capitalization of $24.05 billion, a PE ratio of -50.19, a price-to-earnings-growth ratio of 20.59 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The firm had revenue of $260.10 million for the quarter, compared to analyst estimates of $277.44 million. During the same period last year, the firm earned $0.95 EPS. The company’s revenue for the quarter was down 21.2% compared to the same quarter last year. As a group, research analysts anticipate that Franco-Nevada Co. will post 3.2 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.44 annualized dividend and a dividend yield of 1.15%. Franco-Nevada’s dividend payout ratio (DPR) is presently -57.83%.

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.