Franco-Nevada Co. (NYSE:FNV) Short Interest Down 7.6% in September

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 2,680,000 shares, a decline of 7.6% from the September 15th total of 2,900,000 shares. Based on an average trading volume of 588,500 shares, the short-interest ratio is currently 4.6 days. Currently, 1.4% of the shares of the stock are sold short.

Franco-Nevada Stock Up 1.4 %

NYSE:FNV traded up $1.81 on Thursday, reaching $127.22. The company’s stock had a trading volume of 494,459 shares, compared to its average volume of 649,951. Franco-Nevada has a 12-month low of $102.29 and a 12-month high of $142.60. The firm has a market cap of $24.48 billion, a price-to-earnings ratio of -50.98, a price-to-earnings-growth ratio of 20.13 and a beta of 0.76. The stock has a 50 day moving average price of $123.16 and a 200 day moving average price of $122.66.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The business had revenue of $260.10 million during 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%. Franco-Nevada’s revenue for the quarter was down 21.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 EPS. Equities research analysts expect that Franco-Nevada will post 3.26 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a $0.36 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.44 annualized dividend and a dividend yield of 1.13%. Franco-Nevada’s dividend payout ratio is presently -57.83%.

Analysts Set New Price Targets

FNV has been the topic of a number of recent research reports. Jefferies Financial Group lowered their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Scotiabank boosted their price objective on Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and an average price target of $152.75.

Institutional Investors Weigh In On Franco-Nevada

Several institutional investors and hedge funds have recently modified their holdings of the company. Graham Capital Wealth Management LLC raised its holdings in shares of 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 valued at $2,511,000 after buying an additional 86 shares during the period. Meixler Investment Management Ltd. raised its holdings in shares of Franco-Nevada by 0.5% in the 2nd quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock valued at $2,543,000 after buying an additional 101 shares during the period. Natixis Advisors LLC raised its holdings in shares of Franco-Nevada by 0.5% in the 2nd quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock valued at $2,272,000 after buying an additional 101 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of Franco-Nevada by 33.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after buying an additional 110 shares during the period. Finally, Gulf International Bank UK Ltd raised its holdings in shares of Franco-Nevada by 6.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 1,722 shares of the basic materials company’s stock valued at $205,000 after buying an additional 111 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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.