Wellington Shields Capital Management LLC Has $14.06 Million Stake in Franco-Nevada Co. (NYSE:FNV)

Wellington Shields Capital Management LLC grew its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 3,886.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 119,590 shares of the basic materials company's stock after acquiring an additional 116,590 shares during the quarter. Franco-Nevada comprises about 1.2% of Wellington Shields Capital Management LLC's investment portfolio, making the stock its 21st largest holding. Wellington Shields Capital Management LLC owned about 0.06% of Franco-Nevada worth $14,063,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new position in shares of Franco-Nevada during the fourth quarter valued at $47,000. Point72 DIFC Ltd acquired a new position in shares of Franco-Nevada during the third quarter valued at $52,000. Erste Asset Management GmbH acquired a new position in shares of Franco-Nevada during the third quarter valued at $55,000. SBI Securities Co. Ltd. acquired a new position in shares of Franco-Nevada during the fourth quarter valued at $73,000. Finally, Jones Financial Companies Lllp lifted its holdings in Franco-Nevada by 25.6% in the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock worth $73,000 after purchasing an additional 126 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.

Franco-Nevada Stock Performance

NYSE FNV traded up $0.23 on Tuesday, reaching $154.31. The company's stock had a trading volume of 701,565 shares, compared to its average volume of 618,989. Franco-Nevada Co. has a twelve month low of $112.70 and a twelve month high of $157.64. The stock has a market cap of $29.71 billion, a PE ratio of -48.83, a PEG ratio of 9.78 and a beta of 0.73. The firm's 50 day moving average is $137.34 and its two-hundred day moving average is $128.39.

Remove Ads

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 positive return on equity of 10.55% and a negative net margin of 55.28%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. Equities research analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's payout ratio is presently 53.15%.

Analyst Ratings Changes

FNV has been the subject of several research analyst reports. Royal Bank of Canada upped their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. HC Wainwright upped their price objective on shares of Franco-Nevada from $155.00 to $165.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. StockNews.com raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $153.63.

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.