Barclays PLC Buys 8,147 Shares of Franco-Nevada Co. (NYSE:FNV)

Barclays PLC grew its holdings in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 29.4% during the third quarter, according to its most recent filing 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 SEC filing.

A number of other hedge funds have also made changes to their positions in FNV. Mechanics Financial Corp increased its position in Franco-Nevada by 150.0% in the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company's stock worth $30,000 after purchasing an additional 150 shares during the last quarter. Kings Path Partners LLC acquired a new position in Franco-Nevada in the second quarter worth approximately $36,000. Sunbelt Securities Inc. raised its position in Franco-Nevada by 3,333.3% during the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company's stock valued at $49,000 after acquiring an additional 400 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Franco-Nevada in the third quarter valued at approximately $52,000. Finally, Erste Asset Management GmbH bought a new stake in Franco-Nevada in the third quarter worth approximately $55,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Performance

Shares of FNV traded up $1.05 during trading hours on Friday, reaching $116.21. 1,172,822 shares of the company traded hands, compared to its average volume of 663,678. Franco-Nevada Co. has a 1-year low of $103.64 and a 1-year high of $137.60. The stock has a market cap of $22.37 billion, a P/E ratio of -36.78 and a beta of 0.72. The stock's fifty day moving average is $124.60 and its 200 day moving average is $123.30.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). The firm had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. Franco-Nevada's revenue was down 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 EPS. On average, equities research analysts predict that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FNV. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Bank of America downgraded Franco-Nevada from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. HC Wainwright cut their price objective on Franco-Nevada from $200.00 to $155.00 and set a "buy" rating on the stock in a research note on Friday. UBS Group assumed coverage on Franco-Nevada in a report on Monday, November 18th. They set a "buy" rating and a $160.00 price target on the stock. Finally, Scotiabank reduced their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Franco-Nevada has a consensus rating of "Moderate Buy" and an average price target 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.