Wellington Shields Capital Management LLC Buys 116,590 Shares of Franco-Nevada Co. (NYSE:FNV)

Wellington Shields Capital Management LLC increased its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3,886.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,590 shares of the basic materials company’s stock after purchasing an additional 116,590 shares during the period. Franco-Nevada makes up approximately 1.2% of Wellington Shields Capital Management LLC’s portfolio, making the stock its 21st biggest holding. Wellington Shields Capital Management LLC’s holdings in Franco-Nevada were worth $14,063,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC purchased a new stake in Franco-Nevada during the 4th quarter valued at about $47,000. Point72 DIFC Ltd bought a new stake in Franco-Nevada during the third quarter worth about $52,000. Erste Asset Management GmbH purchased a new stake in shares of Franco-Nevada in the 3rd quarter worth approximately $55,000. SBI Securities Co. Ltd. bought a new position in shares of Franco-Nevada during the fourth quarter valued at $73,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Franco-Nevada by 25.6% during the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company’s stock valued at $73,000 after buying an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on FNV shares. Royal Bank of Canada lifted their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Raymond James upped their price target on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a research note on Tuesday. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Scotiabank lifted their price target on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $153.63.

Franco-Nevada Stock Up 2.0 %

NYSE:FNV opened at $150.14 on Friday. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $152.77. The company has a fifty day simple moving average of $135.47 and a two-hundred day simple moving average of $127.74. The company has a market cap of $28.91 billion, a price-to-earnings ratio of -47.51, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The firm had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS. On average, analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 1.01%. Franco-Nevada’s payout ratio is currently 53.15%.

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.