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

Barclays PLC trimmed its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 34.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,580 shares of the basic materials company’s stock after selling 12,248 shares during the period. Barclays PLC’s holdings in Franco-Nevada were worth $2,772,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in shares of Franco-Nevada by 2.3% during the fourth quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock worth $1,004,046,000 after acquiring an additional 193,968 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Franco-Nevada by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company’s stock valued at $916,540,000 after purchasing an additional 132,465 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Franco-Nevada by 0.3% during the 4th quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company’s stock valued at $622,124,000 after buying an additional 15,273 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Franco-Nevada by 3.3% in the fourth quarter. First Eagle Investment Management LLC now owns 3,366,544 shares of the basic materials company’s stock worth $395,113,000 after buying an additional 107,043 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Franco-Nevada by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 3,159,439 shares of the basic materials company’s stock worth $371,518,000 after buying an additional 20,890 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FNV shares. HC Wainwright raised their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, March 26th. Scotiabank boosted their price objective on Franco-Nevada from $150.00 to $165.00 and gave the company a “sector perform” rating in a report on Monday, April 14th. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, April 7th. Royal Bank of Canada boosted their price target on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Finally, BMO Capital Markets began coverage on Franco-Nevada in a research note on Wednesday, April 16th. They set an “outperform” rating on the stock. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus target price of $162.25.

Franco-Nevada Stock Down 1.3 %

FNV stock opened at $168.66 on Wednesday. The firm’s 50-day simple moving average is $154.62 and its 200 day simple moving average is $136.70. The stock has a market cap of $32.48 billion, a PE ratio of -53.37, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $178.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The company had revenue of $321.00 million during the quarter, compared to analyst estimates of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. Equities analysts forecast that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

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.