Hsbc Holdings PLC Has $488,000 Holdings in Franco-Nevada Corporation $FNV

Hsbc Holdings PLC cut its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 97.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,349 shares of the basic materials company’s stock after selling 108,980 shares during the period. Hsbc Holdings PLC’s holdings in Franco-Nevada were worth $488,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Franco-Nevada by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 8,330,234 shares of the basic materials company’s stock worth $1,726,741,000 after purchasing an additional 113,916 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Franco-Nevada by 12.8% during the fourth quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock worth $1,542,402,000 after purchasing an additional 842,132 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Franco-Nevada by 26.5% in the fourth quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock valued at $1,062,037,000 after buying an additional 1,074,257 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Franco-Nevada by 10.2% in the fourth quarter. Royal Bank of Canada now owns 2,808,645 shares of the basic materials company’s stock valued at $582,177,000 after buying an additional 260,793 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Franco-Nevada in the fourth quarter valued at about $578,577,000. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Down 2.1%

FNV stock opened at $198.22 on Friday. Franco-Nevada Corporation has a twelve month low of $152.89 and a twelve month high of $285.67. The company has a market cap of $38.23 billion, a P/E ratio of 27.92, a PEG ratio of 1.71 and a beta of 0.36. The business has a fifty day moving average of $219.26 and a 200-day moving average of $236.66.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.29. The business had revenue of $650.70 million for the quarter, compared to analysts’ expectations of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The firm’s quarterly revenue was up 76.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 earnings per share. As a group, equities research analysts anticipate that Franco-Nevada Corporation will post 8.22 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. Franco-Nevada’s payout ratio is currently 24.79%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank Of Canada reduced their price target on shares of Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. National Bank Financial upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 13th. Bank of America dropped their target price on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 target price on the stock in a research report on Wednesday, May 20th. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.40.

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.