Franco-Nevada Co. (NYSE:FNV) Short Interest Update

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 1,770,000 shares, a drop of 14.1% from the January 15th total of 2,060,000 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily volume of 685,700 shares, the short-interest ratio is presently 2.6 days.

Institutional Trading of Franco-Nevada

Several hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in shares of Franco-Nevada by 2.3% in the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock valued at $1,004,046,000 after acquiring an additional 193,968 shares in the last quarter. Capital World Investors increased its stake in Franco-Nevada by 9.8% during the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock valued at $934,106,000 after purchasing an additional 711,591 shares in the last quarter. Vanguard Group Inc. increased its stake in Franco-Nevada by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company’s stock valued at $916,540,000 after purchasing an additional 132,465 shares in the last quarter. Bank of Montreal Can increased its stake in Franco-Nevada by 0.3% during the 4th quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company’s stock valued at $622,124,000 after purchasing an additional 15,273 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Franco-Nevada by 10.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,286,661 shares of the basic materials company’s stock valued at $504,069,000 after purchasing an additional 400,384 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 3.9 %

Shares of NYSE FNV traded down $5.61 during midday trading on Friday, reaching $138.37. The stock had a trading volume of 614,397 shares, compared to its average volume of 604,619. The company’s 50 day moving average price is $127.17 and its 200 day moving average price is $125.31. Franco-Nevada has a twelve month low of $103.64 and a twelve month high of $144.27.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 1.10%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is currently -45.57%.

Wall Street Analysts Forecast Growth

FNV has been the topic of several recent research reports. Scotiabank cut their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. UBS Group initiated coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 target price on the stock. Royal Bank of Canada lifted their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and set a $155.00 target price on shares of Franco-Nevada in a research report on Tuesday, January 28th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.71.

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.