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

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,710,000 shares, an increase of 23.0% from the December 31st total of 1,390,000 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily volume of 677,800 shares, the short-interest ratio is presently 2.5 days.

Franco-Nevada Price Performance

NYSE FNV opened at $136.30 on Friday. The business has a fifty day moving average price of $123.15 and a two-hundred day moving average price of $124.20. The stock has a market capitalization of $26.24 billion, a PE ratio of -43.13, a PEG ratio of 7.08 and a beta of 0.72. Franco-Nevada has a fifty-two week low of $103.64 and a fifty-two week high of $137.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data 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). The business 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 business’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period last year, the business earned $0.91 earnings per share. As a group, sell-side analysts expect that Franco-Nevada will post 3.18 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, December 5th. Franco-Nevada’s dividend payout ratio is -45.57%.

Analysts Set New Price Targets

FNV has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Franco-Nevada in a report on Tuesday. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Jefferies Financial Group cut their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. UBS Group initiated coverage on shares of Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 target price on the stock. Finally, Scotiabank reduced their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and an average target price of $145.33.

Institutional Trading of Franco-Nevada

A number of hedge funds have recently added to or reduced their stakes in FNV. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Franco-Nevada by 76.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock valued at $159,530,000 after acquiring an additional 556,894 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Franco-Nevada by 19.4% during the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after purchasing an additional 537,047 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after purchasing an additional 424,810 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of Franco-Nevada by 60.1% in the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock valued at $119,069,000 after buying an additional 359,900 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in Franco-Nevada by 4,361.2% in the 2nd quarter. Clearbridge Investments LLC now owns 275,571 shares of the basic materials company’s stock valued at $32,659,000 after buying an additional 269,394 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Company 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.