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

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 2,950,000 shares, a decrease of 6.1% from the August 15th total of 3,140,000 shares. Based on an average trading volume of 594,200 shares, the short-interest ratio is presently 5.0 days. Approximately 1.5% of the company’s shares are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mechanics Financial Corp grew its stake in shares of Franco-Nevada by 150.0% in the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 150 shares during the last quarter. Mather Group LLC. bought a new position in Franco-Nevada in the 2nd quarter worth about $33,000. Kings Path Partners LLC purchased a new stake in Franco-Nevada during the 2nd quarter valued at about $36,000. Fortis Group Advisors LLC increased its stake in Franco-Nevada by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 176 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after buying an additional 400 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FNV shares. HC Wainwright reissued a “buy” rating and issued a $185.00 target price on shares of Franco-Nevada in a research note on Friday, August 16th. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Bank of America upped their target price on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Jefferies Financial Group lifted their price target on shares of Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a report on Friday, July 12th. Finally, Scotiabank upped their price objective on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.75.

Franco-Nevada Trading Down 0.5 %

Shares of Franco-Nevada stock opened at $123.97 on Thursday. Franco-Nevada has a 12 month low of $102.29 and a 12 month high of $145.74. The firm has a market capitalization of $23.86 billion, a P/E ratio of -49.79, a P/E/G ratio of 20.59 and a beta of 0.76. The business has a fifty day simple moving average of $123.57 and a two-hundred day simple moving average of $121.26.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The business had revenue of $260.10 million for the quarter, compared to analysts’ expectations of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The company’s revenue was down 21.2% on a year-over-year basis. During the same period last year, the business earned $0.95 earnings per share. Analysts predict that Franco-Nevada will post 3.2 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be given a $0.36 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.16%. Franco-Nevada’s dividend payout ratio is currently -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.