Franco-Nevada Co. (NYSE:FNV) Short Interest Up 8.9% in May

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 3,290,000 shares, a growth of 8.9% from the May 15th total of 3,020,000 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily volume of 652,500 shares, the days-to-cover ratio is currently 5.0 days.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of recent research reports. Scotiabank lifted their price target on Franco-Nevada from $140.00 to $141.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd. Bank of America cut their price objective on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. HC Wainwright lifted their price objective on Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Raymond James lifted their price objective on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Jefferies Financial Group lifted their price objective on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $148.70.

Institutional Investors Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently modified their holdings of FNV. J.P. Morgan Private Wealth Advisors LLC increased its holdings in shares of Franco-Nevada by 6.2% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 1,770 shares of the basic materials company’s stock valued at $236,000 after acquiring an additional 104 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Franco-Nevada by 47.6% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 2,755 shares of the basic materials company’s stock valued at $368,000 after acquiring an additional 888 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Franco-Nevada by 27.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 113,044 shares of the basic materials company’s stock valued at $15,067,000 after acquiring an additional 24,604 shares in the last quarter. Aviva PLC grew its holdings in Franco-Nevada by 19.1% during the third quarter. Aviva PLC now owns 8,644 shares of the basic materials company’s stock worth $1,158,000 after buying an additional 1,388 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its holdings in Franco-Nevada by 135.4% during the third quarter. Kestra Advisory Services LLC now owns 63,699 shares of the basic materials company’s stock worth $8,503,000 after buying an additional 36,637 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $116.17 on Wednesday. The company has a market cap of $22.34 billion, a P/E ratio of -46.65, a PEG ratio of 26.19 and a beta of 0.77. The stock has a 50 day simple moving average of $122.11 and a two-hundred day simple moving average of $114.83. Franco-Nevada has a fifty-two week low of $102.29 and a fifty-two week high of $149.06.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The business had revenue of $256.80 million during the quarter, compared to the consensus estimate of $250.50 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. On average, research analysts predict that Franco-Nevada will post 3.19 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.24%. Franco-Nevada’s dividend payout ratio is -57.83%.

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.