2,603 Shares in Franco-Nevada Corporation $FNV Acquired by Aigen Investment Management LP

Aigen Investment Management LP bought a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the fourth quarter, Holdings Channel reports. The institutional investor bought 2,603 shares of the basic materials company’s stock, valued at approximately $540,000.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Franco-Nevada by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 8,330,234 shares of the basic materials company’s stock worth $1,726,741,000 after buying an additional 113,916 shares during the last quarter. Van ECK Associates Corp lifted its position in Franco-Nevada by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock valued at $1,542,402,000 after purchasing an additional 842,132 shares during the last quarter. Bank of Montreal Can lifted its position in Franco-Nevada by 8.9% in the third quarter. Bank of Montreal Can now owns 5,560,980 shares of the basic materials company’s stock valued at $1,237,510,000 after purchasing an additional 454,175 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Franco-Nevada by 26.5% in the fourth quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock valued at $1,062,037,000 after purchasing an additional 1,074,257 shares during the last quarter. Finally, Norges Bank bought a new stake in Franco-Nevada in the fourth quarter valued at approximately $578,577,000. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

FNV has been the subject of several recent research reports. Wall Street Zen downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. TD upgraded Franco-Nevada from a “hold” rating to a “buy” rating and lowered their price objective for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective for the company in a research report on Wednesday, May 20th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Finally, National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold 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 $271.00.

Franco-Nevada Stock Performance

FNV opened at $222.32 on Tuesday. Franco-Nevada Corporation has a 52-week low of $152.89 and a 52-week high of $285.67. The stock has a market capitalization of $42.88 billion, a PE ratio of 31.31, a price-to-earnings-growth ratio of 1.82 and a beta of 0.34. The stock’s 50 day moving average price is $236.20 and its 200-day moving average price is $236.26.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.29. The firm had revenue of $650.70 million for the quarter, compared to analysts’ expectations of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business’s revenue was up 76.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 earnings per share. Research analysts forecast that Franco-Nevada Corporation will post 8.85 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 11th. Franco-Nevada’s dividend payout ratio is presently 24.79%.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.