Wellington Shields Capital Management LLC Has $356,000 Stake in Franco-Nevada Co. (NYSE:FNV)

Wellington Shields Capital Management LLC lowered its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,000 shares of the basic materials company’s stock after selling 200 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Franco-Nevada were worth $356,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Meixler Investment Management Ltd. grew its holdings in Franco-Nevada by 0.5% during the 2nd quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock worth $2,543,000 after acquiring an additional 101 shares during the period. Natixis Advisors LLC grew its stake in shares of Franco-Nevada by 0.5% during the second quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock worth $2,272,000 after purchasing an additional 101 shares during the period. Hillsdale Investment Management Inc. increased 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. Gulf International Bank UK Ltd lifted its stake in Franco-Nevada by 6.9% in the first quarter. Gulf International Bank UK Ltd now owns 1,722 shares of the basic materials company’s stock valued at $205,000 after buying an additional 111 shares during the period. Finally, Primoris Wealth Advisors LLC boosted its holdings in Franco-Nevada by 4.7% during the second quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock worth $293,000 after buying an additional 112 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 0.1 %

Shares of NYSE:FNV traded down $0.15 during mid-day trading on Friday, reaching $119.31. 56,464 shares of the stock were exchanged, compared to its average volume of 647,570. The stock’s 50 day simple moving average is $123.35 and its 200-day simple moving average is $120.17. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $145.82. The company has a market cap of $22.96 billion, a P/E ratio of -47.99, a P/E/G ratio of 20.73 and a beta of 0.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). The business had revenue of $260.10 million for the quarter, compared to the consensus estimate of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. Franco-Nevada’s revenue was down 21.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 earnings per share. Analysts anticipate that Franco-Nevada Co. will post 3.2 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a $0.36 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.44 annualized dividend and a yield of 1.21%. Franco-Nevada’s payout ratio is currently -57.83%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FNV. Scotiabank increased their price target on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Jefferies Financial Group raised their price objective on Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $185.00 target price on shares of Franco-Nevada in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.75.

About Franco-Nevada

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.