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

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 2,850,000 shares, a decrease of 6.6% from the October 31st total of 3,050,000 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily volume of 680,200 shares, the short-interest ratio is currently 4.2 days.

Hedge Funds Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FNV. Allspring Global Investments Holdings LLC acquired a new stake in shares of Franco-Nevada in the second quarter valued at approximately $276,446,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Franco-Nevada by 3,404.9% in the 2nd 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 in the last quarter. EdgePoint Investment Group Inc. lifted its position in Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after acquiring an additional 537,047 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of 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. Finally, Two Sigma Advisers LP lifted its stake in Franco-Nevada by 60.1% during the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock worth $119,069,000 after purchasing an additional 359,900 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Up 1.0 %

Franco-Nevada stock traded up $1.24 during trading hours on Tuesday, hitting $122.61. The stock had a trading volume of 1,613,165 shares, compared to its average volume of 668,065. The stock’s 50-day moving average price is $125.67 and its 200-day moving average price is $123.67. Franco-Nevada has a 12-month low of $102.29 and a 12-month high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. During the same period last year, the company earned $0.91 EPS. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. On average, analysts anticipate that Franco-Nevada will post 3.22 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.17%. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FNV. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. 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 report on Friday, November 8th. Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and an average target price of $152.83.

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.