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

Wellington Shields Capital Management LLC decreased its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 6.3% during the 2nd quarter, Holdings Channel reports. The firm owned 3,000 shares of the basic materials company’s stock after selling 200 shares during the period. Wellington Shields Capital Management LLC’s holdings in Franco-Nevada were worth $356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mechanics Financial Corp increased 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 during the last quarter. Mather Group LLC. acquired a new position in shares of Franco-Nevada during the 2nd quarter worth about $33,000. Kings Path Partners LLC bought a new stake in shares of Franco-Nevada in the 2nd quarter valued at about $36,000. Fortis Group Advisors LLC lifted its stake in Franco-Nevada by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 176 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Franco-Nevada by 37.1% during the first quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 119 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Down 0.1 %

Franco-Nevada stock traded down $0.15 during mid-day trading on Friday, reaching $119.31. The company had a trading volume of 56,464 shares, compared to its average volume of 647,570. The business has a fifty day simple moving average of $123.35 and a 200 day simple moving average of $120.17. 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 Co. has a fifty-two week low of $102.29 and a fifty-two week high of $145.82.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data 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). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The firm had revenue of $260.10 million for the quarter, compared to analyst estimates of $277.44 million. During the same period last year, the business earned $0.95 EPS. The company’s revenue was down 21.2% compared to the same quarter last year. Research analysts forecast that Franco-Nevada Co. will post 3.2 EPS for the current year.

Franco-Nevada Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Scotiabank upped their price objective on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Bank of America lifted their price objective on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $185.00 target price on shares of Franco-Nevada in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $152.75.

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.