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

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mechanics Financial Corp increased its position 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 during the last quarter. Mather Group LLC. acquired a new position in shares of Franco-Nevada in the 2nd quarter worth approximately $33,000. Kings Path Partners LLC bought a new stake in shares of Franco-Nevada in the 2nd quarter valued at approximately $36,000. Sunbelt Securities Inc. raised its position in shares of Franco-Nevada by 3,333.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 400 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Franco-Nevada by 37.1% during the first quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

NYSE FNV traded up $1.81 on Thursday, reaching $127.22. The company had a trading volume of 494,459 shares, compared to its average volume of 649,951. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $142.60. The firm has a 50-day moving average of $123.31 and a 200-day moving average of $122.69. The firm has a market capitalization of $24.48 billion, a PE ratio of -51.09, a P/E/G ratio of 20.13 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The firm had revenue of $260.10 million during the quarter, compared to analysts’ expectations of $277.44 million. During the same quarter last year, the company posted $0.95 earnings per share. Franco-Nevada’s revenue for the quarter was down 21.2% compared to the same quarter last year. As a group, sell-side analysts expect that Franco-Nevada will post 3.26 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

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

Wall Street Analysts Forecast Growth

FNV has been the subject of a number of research analyst reports. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $185.00 target price on shares of Franco-Nevada in a research report on Friday, August 16th. Scotiabank upped their price target 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. 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 issued a buy rating to the stock. According to MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus target price of $152.75.

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.