FY2024 EPS Estimates for Franco-Nevada Lifted by Analyst

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Stock analysts at HC Wainwright lifted their FY2024 earnings per share estimates for shares of Franco-Nevada in a research report issued to clients and investors on Thursday, November 7th. HC Wainwright analyst H. Ihle now forecasts that the basic materials company will post earnings per share of $2.78 for the year, up from their previous estimate of $2.59. HC Wainwright currently has a “Buy” rating and a $200.00 target price on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.25 per share. HC Wainwright also issued estimates for Franco-Nevada’s FY2025 earnings at $3.58 EPS.

Several other research firms have also recently issued reports on FNV. Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group cut their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and a consensus target price of $156.57.

Franco-Nevada Trading Down 3.1 %

Shares of FNV stock opened at $122.44 on Monday. The company has a market cap of $23.57 billion, a P/E ratio of -38.75, a PEG ratio of 22.11 and a beta of 0.75. The firm has a fifty day moving average price of $126.66 and a 200 day moving average price of $124.20. Franco-Nevada has a 12 month low of $102.29 and a 12 month high of $137.60.

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

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.36 dividend. 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 payout ratio is -45.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Franco-Nevada in the 2nd quarter valued at approximately $276,446,000. M&G Plc acquired a new stake in shares of Franco-Nevada during the first quarter worth $219,971,000. EdgePoint Investment Group Inc. grew its position in Franco-Nevada by 68.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock valued at $328,972,000 after buying an additional 1,117,523 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Franco-Nevada by 3,404.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock valued at $86,287,000 after buying an additional 706,919 shares during the period. Finally, Victory Capital Management Inc. raised its position in Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after buying an additional 424,810 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.