Franco-Nevada Co. (NYSE:FNV) Short Interest Down 8.6% in December

Franco-Nevada Co. (NYSE:FNV - Get Free Report) TSE: FNV was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 1,390,000 shares, a decline of 8.6% from the November 30th total of 1,520,000 shares. Based on an average daily volume of 689,100 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.7% of the company's stock are sold short.

Institutional Investors Weigh In On Franco-Nevada

Several hedge funds have recently modified their holdings of the business. Mechanics Financial Corp increased its holdings in shares of Franco-Nevada by 150.0% during 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 period. Sunbelt Securities Inc. raised 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 valued at $49,000 after acquiring an additional 400 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Franco-Nevada in the 3rd quarter worth approximately $52,000. Erste Asset Management GmbH acquired a new stake in shares of Franco-Nevada during the 3rd quarter worth approximately $55,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Franco-Nevada in the third quarter valued at $147,000. 77.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FNV has been the subject of a number of recent research reports. HC Wainwright cut their price target on Franco-Nevada from $200.00 to $155.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. UBS Group started coverage on shares of Franco-Nevada in a report on Monday, November 18th. They set a "buy" rating and a $160.00 price target on the stock. Finally, Scotiabank reduced their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Franco-Nevada has an average rating of "Moderate Buy" and an average target price of $145.33.

Franco-Nevada Price Performance

NYSE:FNV traded up $0.63 during midday trading on Wednesday, reaching $117.59. The stock had a trading volume of 243,416 shares, compared to its average volume of 658,895. The stock has a market capitalization of $22.64 billion, a P/E ratio of -37.21 and a beta of 0.72. Franco-Nevada has a 1-year low of $103.64 and a 1-year high of $137.60. The firm's fifty day simple moving average is $122.75 and its 200-day simple moving average is $123.24.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. During the same period in the prior year, the business posted $0.91 earnings per share. The company's revenue for the quarter was down 10.9% compared to the same quarter last year. On average, equities research analysts anticipate 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 was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.22%. Franco-Nevada's dividend payout ratio (DPR) is presently -45.57%.

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.