Short Interest in Franco-Nevada Co. (NYSE:FNV) Rises By 23.0%

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) saw a significant increase in short interest in 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. Based on an average daily trading volume, of 677,800 shares, the short-interest ratio is currently 2.5 days. Currently, 0.9% of the company’s shares are sold short.

Hedge Funds Weigh In On Franco-Nevada

Several large investors have recently bought and sold shares of the stock. Laurel Wealth Advisors LLC purchased a new stake in shares of Franco-Nevada in the fourth quarter valued at about $47,000. Sunbelt Securities Inc. increased its stake in Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after buying an additional 400 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Franco-Nevada during the 3rd quarter worth approximately $52,000. Erste Asset Management GmbH purchased a new position in shares of Franco-Nevada in the 3rd quarter worth approximately $55,000. Finally, Principal Securities Inc. grew its holdings in shares of Franco-Nevada by 290.5% in the fourth quarter. Principal Securities Inc. now owns 863 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 642 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Trading Up 4.0 %

Shares of FNV stock opened at $136.30 on Friday. The firm has a fifty day simple moving average of $123.15 and a two-hundred day simple moving average of $124.20. Franco-Nevada has a 12 month low of $103.64 and a 12 month high of $137.76. The firm has a market capitalization of $26.24 billion, a PE ratio of -43.13, a price-to-earnings-growth ratio of 7.08 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced 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). The business had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada’s revenue was down 10.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 EPS. On average, equities analysts predict that Franco-Nevada will post 3.18 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently declared 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 of this dividend was Thursday, December 5th. This represents a $1.44 annualized dividend and a yield of 1.06%. Franco-Nevada’s dividend payout ratio (DPR) is currently -45.57%.

Analysts Set New Price Targets

A number of research firms recently commented on FNV. UBS Group began coverage on Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective on the stock. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Scotiabank decreased their target price on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Jefferies Financial Group reduced their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.33.

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.