Franco-Nevada Co. to Post Q2 2024 Earnings of $1.15 Per Share, Raymond James Forecasts (TSE:FNV)

Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) – Analysts at Raymond James increased their Q2 2024 earnings estimates for Franco-Nevada in a research note issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of $1.15 for the quarter, up from their prior forecast of $0.97. Raymond James has a “Outperform” rating and a $138.00 price objective on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $4.28 per share. Raymond James also issued estimates for Franco-Nevada’s Q3 2024 earnings at $1.11 EPS and Q4 2024 earnings at $1.11 EPS.

Franco-Nevada (TSE:FNV) (NYSE:FNV) last announced its quarterly earnings results on Tuesday, March 5th. The company reported C$1.23 EPS for the quarter, beating analysts’ consensus estimates of C$1.07 by C$0.16. The firm had revenue of C$412.95 million during the quarter. Franco-Nevada had a negative net margin of 38.33% and a negative return on equity of 7.65%.

A number of other research firms have also recently issued reports on FNV. BMO Capital Markets cut their target price on shares of Franco-Nevada from C$200.00 to C$195.00 in a research note on Wednesday, March 6th. Stifel Nicolaus raised their target price on shares of Franco-Nevada from C$182.00 to C$196.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Scotiabank cut their target price on shares of Franco-Nevada from C$141.00 to C$139.00 and set a “sector perform” rating for the company in a research note on Thursday, March 7th. Eight Capital raised their target price on shares of Franco-Nevada from C$190.00 to C$200.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Veritas Investment Research raised their price target on shares of Franco-Nevada from C$149.00 to C$173.00 in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$187.50.

Franco-Nevada Stock Performance

Shares of FNV stock opened at C$166.12 on Thursday. The stock has a market cap of C$31.92 billion, a P/E ratio of -49.89, a P/E/G ratio of 5.00 and a beta of 0.63. The company has a debt-to-equity ratio of 1.63, a current ratio of 41.21 and a quick ratio of 23.26. The company has a fifty day moving average price of C$156.27 and a two-hundred day moving average price of C$157.14. Franco-Nevada has a one year low of C$139.19 and a one year high of C$217.70.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.477 dividend. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.47. This represents a $1.91 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently -58.86%.

Insider Activity

In other news, Senior Officer Sandip Rana sold 10,749 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$160.29, for a total value of C$1,722,952.91. In related news, Director Paul Brink sold 3,445 shares of Franco-Nevada stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$158.93, for a total transaction of C$547,513.85. Also, Senior Officer Sandip Rana sold 10,749 shares of Franco-Nevada stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$160.29, for a total transaction of C$1,722,952.91. In the last three months, insiders have sold 16,839 shares of company stock worth $2,686,396. Corporate insiders own 0.69% of the company’s stock.

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.