Short Interest in Franco-Nevada Co. (NYSE:FNV) Rises By 11.7%

Franco-Nevada Co. (NYSE:FNVGet Free Report) (TSE:FNV) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 3,350,000 shares, a growth of 11.7% from the February 29th total of 3,000,000 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average trading volume of 730,500 shares, the short-interest ratio is currently 4.6 days.

Analyst Ratings Changes

FNV has been the subject of several recent analyst reports. Scotiabank decreased their price objective on shares of Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating for the company in a report on Thursday, March 7th. TheStreet cut shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Raymond James cut their target price on shares of Franco-Nevada from $148.00 to $141.00 and set an “outperform” rating for the company in a research note on Tuesday, December 12th. Bank of America cut their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Finally, Jefferies Financial Group started coverage on shares of Franco-Nevada in a research note on Thursday, February 29th. They set a “hold” rating and a $117.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $147.30.

View Our Latest Stock Analysis on FNV

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $119.80 on Wednesday. The company has a market cap of $23.02 billion, a PE ratio of -49.30, a price-to-earnings-growth ratio of 6.72 and a beta of 0.71. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $161.25. The firm has a 50 day simple moving average of $111.01 and a 200 day simple moving average of $117.47.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last issued its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The business had revenue of $303.30 million during the quarter. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. On average, equities analysts predict that Franco-Nevada will post 2.68 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio is -55.97%.

Institutional Investors Weigh In On Franco-Nevada

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. VisionPoint Advisory Group LLC purchased a new stake in Franco-Nevada in the 3rd quarter worth approximately $30,000. Castleview Partners LLC acquired a new position in shares of Franco-Nevada during the 3rd quarter worth $33,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Franco-Nevada during the 4th quarter worth $34,000. State of Wyoming acquired a new position in Franco-Nevada in the 4th quarter valued at $38,000. Finally, Allworth Financial LP grew its stake in Franco-Nevada by 5,750.0% in the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after buying an additional 345 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

About Franco-Nevada

(Get Free Report)

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.

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