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

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) saw a significant 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. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 680,200 shares, the short-interest ratio is presently 4.2 days.

Franco-Nevada Stock Up 1.0 %

FNV traded up $1.24 during trading on Tuesday, reaching $122.61. The stock had a trading volume of 1,613,165 shares, compared to its average volume of 668,065. The business has a 50-day moving average of $125.67 and a 200-day moving average of $123.67. Franco-Nevada has a one year low of $102.29 and a one year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The business had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. Franco-Nevada’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS. As a group, research analysts expect that Franco-Nevada will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s payout ratio is -45.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FNV shares. Jefferies Financial Group cut their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. HC Wainwright lifted their price target on Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $152.83.

Institutional Investors Weigh In On Franco-Nevada

Several institutional investors and hedge funds have recently modified their holdings of FNV. Mechanics Financial Corp increased its stake in shares of Franco-Nevada by 150.0% in the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 150 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Franco-Nevada during the 2nd quarter valued at about $33,000. Kings Path Partners LLC purchased a new position in shares of Franco-Nevada during the 2nd quarter valued at about $36,000. Sunbelt Securities Inc. increased its holdings 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 worth $49,000 after acquiring an additional 400 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Franco-Nevada during the 3rd quarter worth approximately $52,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.