Franco-Nevada Co. (NYSE:FNV) Stake Lifted by Franklin Resources Inc.

Franklin Resources Inc. raised its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,232 shares of the basic materials company's stock after acquiring an additional 6,052 shares during the period. Franklin Resources Inc.'s holdings in Franco-Nevada were worth $9,957,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Graham Capital Wealth Management LLC lifted its holdings in shares of Franco-Nevada by 0.4% during the 2nd quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company's stock valued at $2,511,000 after acquiring an additional 86 shares in the last quarter. Meixler Investment Management Ltd. grew its stake in shares of Franco-Nevada by 0.5% in the second quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company's stock valued at $2,543,000 after buying an additional 101 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Franco-Nevada by 0.5% during the 2nd quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company's stock valued at $2,272,000 after buying an additional 101 shares during the period. Huntington National Bank lifted its position in Franco-Nevada by 7.4% during the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company's stock worth $185,000 after acquiring an additional 102 shares in the last quarter. Finally, Primoris Wealth Advisors LLC boosted its holdings in Franco-Nevada by 4.7% in the 2nd quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company's stock worth $293,000 after acquiring an additional 112 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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. UBS Group began coverage on Franco-Nevada in a research note on Monday, November 18th. They issued a "buy" rating and a $160.00 price target for the company. Scotiabank reduced their target price on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a report on Friday, November 8th. Jefferies Financial Group lowered their price target on Franco-Nevada from $137.00 to $136.00 and set a "hold" rating for the company in a report on Thursday, October 17th. Finally, HC Wainwright reduced 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. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $145.33.

Franco-Nevada Price Performance

NYSE:FNV traded up $1.05 during midday trading 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 twelve month low of $103.64 and a twelve month high of $137.60. The company has a fifty day moving average price of $124.60 and a 200 day moving average price of $123.30. The firm has a market capitalization of $22.37 billion, a price-to-earnings ratio of -36.78 and a beta of 0.72.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released 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 firm had revenue of $275.70 million for 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%. The firm's revenue was down 10.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. On average, equities research analysts forecast that Franco-Nevada Co. will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

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

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.