Aigen Investment Management LP Makes New $333,000 Investment in Franco-Nevada Corporation $FNV

Key Points

• Aigen Investment Management LP acquired a new stake of 2,113 shares in Franco-Nevada Corporation, valued at approximately $333,000, during the first quarter of the year.
• Franco-Nevada reported earnings of $1.24 EPS for the quarter, surpassing expectations, while its quarterly revenue was up 42% year-over-year, reaching $369.40 million.
• The company declared a quarterly dividend of $0.38 per share, which reflects an annualized dividend yield of 0.8%, with the ex-dividend date set for September 11th.

Aigen Investment Management LP bought a new position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,113 shares of the basic materials company's stock, valued at approximately $333,000.

Several other large investors also recently bought and sold shares of FNV. Envestnet Asset Management Inc. boosted its holdings in Franco-Nevada by 42.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 42,905 shares of the basic materials company's stock valued at $5,045,000 after purchasing an additional 12,688 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Franco-Nevada by 28.5% in the fourth quarter. Invesco Ltd. now owns 450,442 shares of the basic materials company's stock worth $52,967,000 after buying an additional 99,842 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Franco-Nevada by 5.9% during the fourth quarter. NewEdge Advisors LLC now owns 5,642 shares of the basic materials company's stock worth $663,000 after acquiring an additional 313 shares during the period. Capital International Sarl raised its position in Franco-Nevada by 54.1% during the fourth quarter. Capital International Sarl now owns 12,266 shares of the basic materials company's stock valued at $1,441,000 after acquiring an additional 4,308 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Franco-Nevada by 1,024.9% in the fourth quarter. First Trust Advisors LP now owns 368,342 shares of the basic materials company's stock valued at $43,313,000 after acquiring an additional 335,598 shares during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Raymond James Financial raised their price target on shares of Franco-Nevada from $186.00 to $188.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. UBS Group lifted their price objective on shares of Franco-Nevada from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Scotiabank increased their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 12th. Finally, National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $178.88.

Franco-Nevada Trading Down 1.2%

NYSE:FNV traded down $2.17 during trading hours on Monday, hitting $175.20. 286,768 shares of the stock were exchanged, compared to its average volume of 832,387. The firm's fifty day moving average price is $165.02 and its 200 day moving average price is $159.19. Franco-Nevada Corporation has a 52-week low of $112.70 and a 52-week high of $180.98. The company has a market cap of $33.76 billion, a P/E ratio of 43.05, a P/E/G ratio of 2.36 and a beta of 0.36.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The business had revenue of $369.40 million during the quarter, compared to analyst estimates of $382.70 million. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The company's revenue for the quarter was up 42.0% compared to the same quarter last year. Equities analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, September 11th. Franco-Nevada's dividend payout ratio (DPR) is 37.35%.

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.