Franco-Nevada Co. (NYSE:FNV) Short Interest Update

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 1,390,000 shares, a decrease of 8.6% from the November 30th total of 1,520,000 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 689,100 shares, the days-to-cover ratio is currently 2.0 days.

Franco-Nevada Price Performance

Franco-Nevada stock traded up $0.63 during trading hours on Wednesday, hitting $117.59. 243,416 shares of the stock traded hands, compared to its average volume of 658,895. The firm’s 50 day moving average price is $122.75 and its 200-day moving average price is $123.24. The stock has a market capitalization of $22.64 billion, a price-to-earnings ratio of -37.21 and a beta of 0.72. Franco-Nevada has a 1 year low of $103.64 and a 1 year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. During the same quarter last year, the company posted $0.91 EPS. Franco-Nevada’s quarterly revenue was down 10.9% compared to the same quarter last year. Research analysts forecast that Franco-Nevada will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.36 per share. The ex-dividend date was Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.22%. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FNV. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price target for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. UBS Group assumed coverage on shares of Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 price target on the stock. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Jefferies Financial Group dropped their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and an average price target of $145.33.

Institutional Investors Weigh In On Franco-Nevada

Several hedge funds have recently added to or reduced their stakes in the business. Graham Capital Wealth Management LLC raised its stake 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 buying an additional 86 shares during the last quarter. Natixis Advisors LLC lifted its holdings in Franco-Nevada by 0.5% in the second quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock valued at $2,272,000 after acquiring an additional 101 shares during the period. Huntington National Bank boosted its position in Franco-Nevada by 7.4% in the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 102 shares in the last quarter. Primoris Wealth Advisors LLC grew its stake in shares of Franco-Nevada by 4.7% during the 2nd quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock worth $293,000 after purchasing an additional 112 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of Franco-Nevada by 3.8% during the 2nd quarter. Signaturefd LLC now owns 3,054 shares of the basic materials company’s stock valued at $362,000 after purchasing an additional 113 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.