Franco-Nevada Co. (NYSE:FNV) Shares Acquired by Barclays PLC

Barclays PLC grew its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 29.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,828 shares of the basic materials company’s stock after purchasing an additional 8,147 shares during the quarter. Barclays PLC’s holdings in Franco-Nevada were worth $4,450,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. M&G PLC boosted its position in Franco-Nevada by 3.2% in the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after buying an additional 51,996 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Franco-Nevada by 3,404.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock valued at $86,287,000 after purchasing an additional 706,919 shares during the period. Horizon Kinetics Asset Management LLC boosted its holdings in Franco-Nevada by 1.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock valued at $116,277,000 after purchasing an additional 17,232 shares during the period. Telemark Asset Management LLC increased its holdings in Franco-Nevada by 66.7% during the 3rd quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock worth $6,212,000 after purchasing an additional 20,000 shares during the period. Finally, Victory Capital Management Inc. raised its position in Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after purchasing an additional 424,810 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FNV shares. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. UBS Group started coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective on the stock. Scotiabank decreased 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 report on Friday, November 8th. Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their target price for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.33.

Franco-Nevada Price Performance

NYSE FNV opened at $116.21 on Friday. The company has a fifty day moving average of $124.60 and a two-hundred day moving average of $123.27. The company has a market capitalization of $22.37 billion, a PE ratio of -36.78 and a beta of 0.72. Franco-Nevada Co. has a 1 year low of $103.64 and a 1 year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (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 analyst estimates of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. On average, research analysts expect that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced 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 was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.24%. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Franco-Nevada 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.