Barclays PLC Grows Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Barclays PLC boosted its holdings in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 29.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,828 shares of the basic materials company's stock after purchasing an additional 8,147 shares during the period. Barclays PLC's holdings in Franco-Nevada were worth $4,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in Franco-Nevada during the second quarter valued at $276,446,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Franco-Nevada by 31.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 15,043 shares of the basic materials company's stock valued at $1,783,000 after acquiring an additional 3,626 shares during the period. Meixler Investment Management Ltd. increased its stake in shares of Franco-Nevada by 0.5% in the 2nd quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company's stock valued at $2,543,000 after purchasing an additional 101 shares in the last quarter. Ridgewood Investments LLC acquired a new position in Franco-Nevada in the 2nd quarter worth about $68,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Franco-Nevada by 3.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,813 shares of the basic materials company's stock worth $9,816,000 after purchasing an additional 2,751 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock traded up $1.05 on Friday, reaching $116.21. The company had a trading volume of 1,172,822 shares, compared to its average volume of 663,678. The firm's 50 day moving average price is $124.60 and its two-hundred day moving average price is $123.30. Franco-Nevada Co. has a 52-week low of $103.64 and a 52-week high of $137.60. The firm has a market cap of $22.37 billion, a PE ratio of -36.78 and a beta of 0.72.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly 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). The business had revenue of $275.70 million during the quarter, compared to analysts' expectations of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business's quarterly revenue was down 10.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. As a group, sell-side analysts predict that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.24%. Franco-Nevada's dividend payout ratio (DPR) is currently -45.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FNV shares. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. HC Wainwright reduced their price target on shares of Franco-Nevada from $200.00 to $155.00 and set a "buy" rating for the company in a research report on Friday. Jefferies Financial Group lowered their price objective on Franco-Nevada from $137.00 to $136.00 and set a "hold" rating on the stock in a report on Thursday, October 17th. UBS Group began coverage on Franco-Nevada in a research note on Monday, November 18th. They set a "buy" rating and a $160.00 price objective for the company. Finally, Bank of America downgraded Franco-Nevada from a "buy" rating to a "neutral" rating and decreased their target price for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $145.33.

About Franco-Nevada

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.