Short Interest in Franco-Nevada Co. (NYSE:FNV) Expands By 36.6%

Franco-Nevada Co. (NYSE:FNV - Get Free Report) TSE: FNV saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 2,800,000 shares, a growth of 36.6% from the February 28th total of 2,050,000 shares. Based on an average daily volume of 730,400 shares, the days-to-cover ratio is presently 3.8 days. Currently, 1.5% of the company's stock are sold short.

Franco-Nevada Price Performance

Franco-Nevada stock traded down $11.80 during midday trading on Friday, reaching $146.92. The stock had a trading volume of 935,701 shares, compared to its average volume of 756,448. Franco-Nevada has a twelve month low of $112.70 and a twelve month high of $161.36. The firm has a market cap of $28.29 billion, a price-to-earnings ratio of -46.48, a PEG ratio of 9.78 and a beta of 0.73. The firm's fifty day simple moving average is $144.90 and its two-hundred day simple moving average is $131.43.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $321.00 million during the quarter, compared to analyst estimates of $304.33 million. During the same period in the prior year, the firm earned $0.90 earnings per share. The firm's revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that Franco-Nevada will post 3.09 EPS for the current fiscal year.

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Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.38 per share. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Thursday, March 13th. Franco-Nevada's payout ratio is currently 53.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Scotiabank increased their target price on Franco-Nevada from $145.00 to $150.00 and gave the company a "sector perform" rating in a research note on Tuesday, March 11th. UBS Group boosted their target price on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Raymond James lifted their price target on shares of Franco-Nevada from $160.00 to $162.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. TD Securities cut shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective for the company. in a research report on Tuesday, March 11th. Finally, StockNews.com raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Wednesday, March 19th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $155.50.

Institutional Trading of Franco-Nevada

A number of institutional investors have recently bought and sold shares of FNV. Versant Capital Management Inc acquired a new stake in shares of Franco-Nevada during the 1st quarter valued at about $55,000. Laurel Wealth Advisors LLC bought a new position in Franco-Nevada during the fourth quarter valued at approximately $47,000. Point72 DIFC Ltd bought a new stake in Franco-Nevada in the third quarter worth approximately $52,000. Physician Wealth Advisors Inc. acquired a new position in shares of Franco-Nevada during the 4th quarter worth $49,000. Finally, Erste Asset Management GmbH bought a new position in shares of Franco-Nevada during the 3rd quarter valued at $55,000. Institutional investors and hedge funds 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.