Wellington Shields Capital Management LLC Has $402,000 Stock Holdings in Franco-Nevada Corporation $FNV

Wellington Shields Capital Management LLC trimmed its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 18.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,450 shares of the basic materials company’s stock after selling 550 shares during the period. Wellington Shields Capital Management LLC’s holdings in Franco-Nevada were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Franco-Nevada by 198.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company’s stock worth $268,280,000 after acquiring an additional 1,133,373 shares during the period. Scharf Investments LLC acquired a new stake in shares of Franco-Nevada in the second quarter valued at about $78,509,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Franco-Nevada by 101.1% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 672,148 shares of the basic materials company’s stock valued at $105,731,000 after purchasing an additional 337,926 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Franco-Nevada by 53.8% in the first quarter. Canada Pension Plan Investment Board now owns 883,293 shares of the basic materials company’s stock worth $138,945,000 after purchasing an additional 309,161 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Franco-Nevada by 280.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 365,812 shares of the basic materials company’s stock worth $57,526,000 after purchasing an additional 269,730 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FNV has been the topic of several recent analyst reports. CIBC reaffirmed an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. TD Securities boosted their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a “hold” rating in a research report on Tuesday, August 12th. Wall Street Zen cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Scotiabank raised their price target on shares of Franco-Nevada from $184.00 to $225.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Finally, Raymond James Financial boosted their price objective on shares of Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $216.14.

Franco-Nevada Stock Down 1.1%

NYSE:FNV opened at $186.82 on Monday. The firm has a market capitalization of $36.01 billion, a PE ratio of 45.90, a price-to-earnings-growth ratio of 1.70 and a beta of 0.42. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $225.63. The firm has a 50-day moving average price of $201.63 and a 200 day moving average price of $179.16.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued 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. The business had revenue of $369.40 million during the quarter, compared to analysts’ expectations of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.Franco-Nevada’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 EPS. On average, research analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, September 11th. Franco-Nevada’s payout ratio is currently 37.35%.

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.