Franco-Nevada Co. to Post Q2 2024 Earnings of $0.93 Per Share, Raymond James Forecasts (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Raymond James boosted their Q2 2024 earnings per share estimates for shares of Franco-Nevada in a note issued to investors on Thursday, November 9th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings of $0.93 per share for the quarter, up from their prior estimate of $0.90. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.37 per share. Raymond James also issued estimates for Franco-Nevada’s Q3 2024 earnings at $0.95 EPS.

FNV has been the subject of several other research reports. HC Wainwright upped their target price on Franco-Nevada from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. StockNews.com initiated coverage on Franco-Nevada in a research note on Thursday, October 5th. They set a “hold” rating for the company. TD Securities lowered Franco-Nevada from a “buy” rating to a “hold” rating and dropped their price objective for the company from $180.00 to $145.00 in a research note on Tuesday, October 31st. Stifel Nicolaus raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Finally, CSFB dropped their price objective on Franco-Nevada from $157.00 to $150.00 and set a “neutral” rating for the company in a research note on Thursday, August 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $168.88.

Franco-Nevada Trading Down 0.6 %

FNV stock opened at $119.40 on Monday. The company’s 50 day moving average is $134.68 and its 200 day moving average is $141.62. The stock has a market cap of $22.94 billion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 5.59 and a beta of 0.76. Franco-Nevada has a 1-year low of $116.40 and a 1-year high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $309.50 million for the quarter, compared to analysts’ expectations of $317.93 million. Franco-Nevada had a return on equity of 10.32% and a net margin of 55.10%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 earnings per share.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Thursday, December 7th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, December 6th. Franco-Nevada’s dividend payout ratio (DPR) is presently 38.42%.

Institutional Trading of Franco-Nevada

Large investors have recently added to or reduced their stakes in the company. Citigroup Inc. boosted its holdings in shares of Franco-Nevada by 15.6% in the 3rd quarter. Citigroup Inc. now owns 220,603 shares of the basic materials company’s stock worth $29,587,000 after purchasing an additional 29,790 shares during the period. Pring Turner Capital Group Inc. boosted its holdings in shares of Franco-Nevada by 66.2% in the 3rd quarter. Pring Turner Capital Group Inc. now owns 14,820 shares of the basic materials company’s stock worth $1,978,000 after purchasing an additional 5,902 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Franco-Nevada by 0.4% in the 3rd quarter. HighTower Advisors LLC now owns 115,356 shares of the basic materials company’s stock worth $15,367,000 after purchasing an additional 476 shares during the period. Montrusco Bolton Investments Inc. boosted its holdings in shares of Franco-Nevada by 270.4% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 405,712 shares of the basic materials company’s stock worth $54,414,000 after purchasing an additional 296,169 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Franco-Nevada by 47.6% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,755 shares of the basic materials company’s stock worth $368,000 after purchasing an additional 888 shares during the period. Institutional investors own 66.70% of the company’s stock.

About Franco-Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, 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.