Franco-Nevada Co. (NYSE:FNV) Short Interest Down 6.6% in November

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

Wall Street Analyst Weigh In

FNV has been the subject of several recent analyst reports. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. UBS Group began coverage on Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price for the company. Scotiabank lowered 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. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $152.83.

Hedge Funds Weigh In On Franco-Nevada

A number of hedge funds have recently made changes to their positions in FNV. Graham Capital Wealth Management LLC lifted its holdings in Franco-Nevada by 0.4% in the 2nd quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company’s stock worth $2,511,000 after purchasing an additional 86 shares in the last quarter. Meixler Investment Management Ltd. lifted its holdings in shares of Franco-Nevada by 0.5% in the second quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock worth $2,543,000 after buying an additional 101 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Franco-Nevada by 0.5% during the second quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock worth $2,272,000 after acquiring an additional 101 shares during the last quarter. Huntington National Bank grew its stake in Franco-Nevada by 7.4% during the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after acquiring an additional 102 shares in the last quarter. Finally, Primoris Wealth Advisors LLC increased its holdings in Franco-Nevada by 4.7% in the 2nd quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock valued at $293,000 after acquiring an additional 112 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 0.4 %

FNV traded down $0.45 during midday trading on Wednesday, reaching $122.16. The company had a trading volume of 26,804 shares, compared to its average volume of 665,290. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $137.60. The company has a market cap of $23.51 billion, a P/E ratio of -38.80 and a beta of 0.72. The business has a 50-day moving average of $125.56 and a two-hundred day moving average of $123.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued 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 firm had revenue of $275.70 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. On average, equities research analysts predict that Franco-Nevada will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 dividend on an annualized basis and a yield of 1.18%. Franco-Nevada’s dividend payout ratio is presently -45.57%.

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.