Franco-Nevada Co. (NYSE:FNV) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP cut its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 24.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,587 shares of the basic materials company’s stock after selling 2,396 shares during the quarter. Aigen Investment Management LP’s holdings in Franco-Nevada were worth $942,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FNV. Massachusetts Financial Services Co. MA boosted its holdings in Franco-Nevada by 0.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock valued at $1,456,208,000 after purchasing an additional 64,429 shares during the period. Van ECK Associates Corp grew its position in shares of Franco-Nevada by 1.8% during the second quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock worth $1,022,452,000 after buying an additional 151,566 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Franco-Nevada by 1.8% during the first quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock worth $878,696,000 after buying an additional 129,876 shares during the period. Capital World Investors lifted its stake in Franco-Nevada by 2.7% in the first quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company’s stock worth $547,807,000 after acquiring an additional 120,367 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of Franco-Nevada by 1.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company’s stock valued at $386,597,000 after purchasing an additional 47,311 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

NYSE FNV opened at $114.95 on Wednesday. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $137.60. The firm’s fifty day moving average is $126.49 and its two-hundred day moving average is $124.12.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm’s revenue was down 10.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 earnings per share. As a group, research analysts expect that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 annualized dividend and a yield of 1.25%. Franco-Nevada’s dividend payout ratio is currently -45.57%.

Wall Street Analysts Forecast Growth

FNV has been the subject of a number of analyst reports. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Scotiabank dropped their price objective on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group decreased their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Bank of America lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their price target for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. Finally, HC Wainwright upped their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.57.

Franco-Nevada Company Profile

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.