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 in January. As of January 31st, there was short interest totalling 1,770,000 shares, a decrease of 14.1% from the January 15th total of 2,060,000 shares. Based on an average trading volume of 685,700 shares, the days-to-cover ratio is presently 2.6 days. Approximately 0.9% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Essex Financial Services Inc. increased its position in shares of Franco-Nevada by 2.2% in the fourth quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 84 shares during the last quarter. Harbour Investments Inc. increased its position in shares of Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 93 shares during the last quarter. Mutual Advisors LLC increased its position in shares of Franco-Nevada by 4.0% in the fourth quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after purchasing an additional 96 shares during the last quarter. Sustainable Insight Capital Management LLC boosted its stake in shares of Franco-Nevada by 2.7% during the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock valued at $441,000 after purchasing an additional 100 shares during the period. Finally, Huntington National Bank boosted its stake in shares of Franco-Nevada by 7.4% during the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after purchasing an additional 102 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on FNV. Royal Bank of Canada upped their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. HC Wainwright reiterated a “buy” rating and issued a $155.00 target price on shares of Franco-Nevada in a research note on Tuesday, January 28th. 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. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and an average price target of $146.71.

Franco-Nevada Trading Down 3.9 %

Shares of FNV traded down $5.61 during midday trading on Friday, hitting $138.37. 614,397 shares of the company traded hands, compared to its average volume of 604,619. The stock has a 50-day moving average of $127.17 and a 200-day moving average of $125.31. Franco-Nevada has a one year low of $103.64 and a one year high of $144.27.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.10%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. Franco-Nevada’s dividend payout ratio is -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.