Franco-Nevada Co. (NYSE:FNV – Get Rating) (TSE:FNV) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totalling 3,450,000 shares, a drop of 6.0% from the April 15th total of 3,670,000 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 647,800 shares, the short-interest ratio is currently 5.3 days.
Franco-Nevada Trading Down 0.3 %
FNV opened at $153.62 on Thursday. Franco-Nevada has a 1-year low of $109.70 and a 1-year high of $161.25. The company has a market cap of $29.48 billion, a P/E ratio of 43.77, a price-to-earnings-growth ratio of 11.15 and a beta of 0.71. The company has a fifty day moving average price of $150.06 and a two-hundred day moving average price of $142.35.
Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) last posted its quarterly earnings results on Tuesday, May 2nd. The basic materials company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. Franco-Nevada had a net margin of 53.87% and a return on equity of 10.58%. The firm had revenue of $276.30 million during the quarter, compared to the consensus estimate of $302.62 million. During the same period in the previous year, the firm posted $0.93 earnings per share. The business’s revenue was down 18.4% compared to the same quarter last year. On average, research analysts forecast that Franco-Nevada will post 3.51 EPS for the current fiscal year.
Franco-Nevada Dividend Announcement
Institutional Investors Weigh In On Franco-Nevada
Hedge funds and other institutional investors have recently made changes to their positions in the business. ClariVest Asset Management LLC grew its holdings in shares of Franco-Nevada by 0.3% during the 1st quarter. ClariVest Asset Management LLC now owns 20,790 shares of the basic materials company’s stock valued at $3,028,000 after purchasing an additional 70 shares during the last quarter. Van Hulzen Asset Management LLC boosted its stake in Franco-Nevada by 2.5% during the first quarter. Van Hulzen Asset Management LLC now owns 3,020 shares of the basic materials company’s stock worth $440,000 after acquiring an additional 75 shares in the last quarter. IHT Wealth Management LLC raised its holdings in Franco-Nevada by 4.6% in the fourth quarter. IHT Wealth Management LLC now owns 1,782 shares of the basic materials company’s stock worth $329,000 after buying an additional 78 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Franco-Nevada by 5.3% in the first quarter. Vanguard Personalized Indexing Management LLC now owns 1,640 shares of the basic materials company’s stock worth $239,000 after buying an additional 83 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Franco-Nevada by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 5,236 shares of the basic materials company’s stock worth $626,000 after buying an additional 85 shares during the last quarter. 66.69% of the stock is owned by institutional investors.
Analyst Ratings Changes
FNV has been the topic of a number of research analyst reports. HC Wainwright raised their target price on shares of Franco-Nevada from $145.00 to $180.00 in a research report on Thursday, May 4th. StockNews.com initiated coverage on shares of Franco-Nevada in a report on Thursday. They set a “hold” rating on the stock. Stifel Nicolaus lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Friday, January 20th. Barclays boosted their target price on shares of Franco-Nevada from $115.00 to $127.00 and gave the company an “underweight” rating in a report on Friday, April 21st. Finally, Raymond James boosted their target price on shares of Franco-Nevada from $163.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $174.29.
Franco-Nevada Company Profile
Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded in 1983 and is headquartered in Toronto, Canada.
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