FY2024 EPS Estimates for Franco-Nevada Cut by Analyst

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Equities research analysts at National Bank Financial cut their FY2024 earnings per share (EPS) estimates for Franco-Nevada in a report released on Thursday, November 7th. National Bank Financial analyst S. Nagle now forecasts that the basic materials company will earn $3.27 per share for the year, down from their prior forecast of $3.36. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.25 per share. National Bank Financial also issued estimates for Franco-Nevada’s Q4 2024 earnings at $0.96 EPS and FY2025 earnings at $4.27 EPS.

Other equities analysts have also recently issued research reports about the stock. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Jefferies Financial Group reduced their price target on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Finally, HC Wainwright boosted their price objective on Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $156.57.

Franco-Nevada Stock Performance

FNV stock opened at $122.44 on Monday. Franco-Nevada has a one year low of $102.29 and a one year high of $137.60. The company has a market capitalization of $23.57 billion, a PE ratio of -38.75, a price-to-earnings-growth ratio of 22.11 and a beta of 0.75. The company’s 50 day moving average price is $126.66 and its two-hundred day moving average price is $124.20.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.63%. The firm had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. During the same period in the prior year, the business posted $0.91 earnings per share. The business’s quarterly revenue was down 10.9% on a year-over-year basis.

Institutional Trading of Franco-Nevada

Several large investors have recently added to or reduced their stakes in FNV. Mechanics Financial Corp increased its position in shares of Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after buying an additional 150 shares during the period. Mather Group LLC. purchased a new position in shares of Franco-Nevada in the 2nd quarter valued at approximately $33,000. Kings Path Partners LLC purchased a new position in shares of Franco-Nevada in the 2nd quarter valued at approximately $36,000. Sunbelt Securities Inc. boosted its position in shares of Franco-Nevada by 3,333.3% during the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 400 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in Franco-Nevada by 33.3% in the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 110 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.18%. Franco-Nevada’s dividend payout ratio is presently -45.57%.

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.