Aigen Investment Management LP Cuts Position in Franco-Nevada Co. (NYSE:FNV)

Aigen Investment Management LP reduced its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 24.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,587 shares of the basic materials company’s stock after selling 2,396 shares during the period. Aigen Investment Management LP’s holdings in Franco-Nevada were worth $942,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Mechanics Financial Corp boosted its holdings in Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after buying an additional 150 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Franco-Nevada in the 2nd quarter worth approximately $33,000. Kings Path Partners LLC acquired a new position in Franco-Nevada during the second quarter worth $36,000. Sunbelt Securities Inc. boosted its position in Franco-Nevada by 3,333.3% during the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 400 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in Franco-Nevada by 33.3% in the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 110 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Stock Down 2.4 %

Shares of NYSE:FNV opened at $114.95 on Wednesday. The business has a fifty day simple moving average of $126.49 and a 200-day simple moving average of $124.12. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter in the previous year, the company earned $0.91 earnings per share. The company’s revenue was down 10.9% on a year-over-year basis. On average, equities analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.25%. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Jefferies Financial Group lowered their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Finally, Scotiabank cut their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.