Franco-Nevada Co. (NYSE:FNV) Short Interest Down 6.1% in August

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) was the recipient of a large decrease in short interest in 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 currently 5.0 days. Approximately 1.5% of the shares of the company are short sold.

Analyst Ratings Changes

Several research firms have commented on FNV. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Jefferies Financial Group upped their price target on Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a report on Friday, July 12th. HC Wainwright reaffirmed a “buy” rating and issued a $185.00 price target on shares of Franco-Nevada in a report on Friday, August 16th. Finally, Bank of America upped their price target on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. 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, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Scotia Capital Inc. boosted its position in shares of Franco-Nevada by 27.1% in the 4th quarter. Scotia Capital Inc. now owns 149,153 shares of the basic materials company’s stock worth $16,474,000 after purchasing an additional 31,796 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Franco-Nevada by 108.1% during the fourth quarter. Allianz Asset Management GmbH now owns 455,239 shares of the basic materials company’s stock worth $50,671,000 after acquiring an additional 236,503 shares in the last quarter. Alberta Investment Management Corp lifted its holdings in Franco-Nevada by 2.3% during the fourth quarter. Alberta Investment Management Corp now owns 447,633 shares of the basic materials company’s stock worth $49,825,000 after acquiring an additional 10,250 shares in the last quarter. Bornite Capital Management LP bought a new position in Franco-Nevada during the fourth quarter worth about $8,167,000. Finally, Trexquant Investment LP acquired a new stake in shares of Franco-Nevada in the 4th quarter valued at about $2,104,000. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Price Performance

Shares of FNV traded down $0.93 during mid-day trading on Wednesday, reaching $123.63. The company had a trading volume of 35,631 shares, compared to its average volume of 647,101. The company’s 50-day moving average is $123.57 and its 200-day moving average is $121.26. Franco-Nevada has a twelve month low of $102.29 and a twelve month high of $145.74. The company has a market capitalization of $23.79 billion, a P/E ratio of -50.02, a P/E/G ratio of 20.59 and a beta of 0.76.

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