Franco-Nevada FY2024 EPS Estimate Lifted by Raymond James

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Equities researchers at Raymond James increased their FY2024 EPS estimates for Franco-Nevada in a note issued to investors on Monday, January 27th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $3.19 per share for the year, up from their prior forecast of $3.12. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.18 per share. Raymond James also issued estimates for Franco-Nevada’s Q4 2024 earnings at $0.87 EPS, Q1 2025 earnings at $0.96 EPS, Q2 2025 earnings at $0.91 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $1.01 EPS and FY2025 earnings at $3.85 EPS.

Several other research firms also recently issued reports on FNV. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and set a $155.00 target price on shares of Franco-Nevada in a research report on Tuesday. Scotiabank reduced their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. UBS Group assumed coverage on Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective on the stock. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $145.33.

Franco-Nevada Trading Up 0.2 %

NYSE FNV opened at $130.90 on Wednesday. The stock has a market cap of $25.20 billion, a P/E ratio of -41.42, a PEG ratio of 7.08 and a beta of 0.72. The company’s fifty day simple moving average is $122.89 and its 200-day simple moving average is $124.12. Franco-Nevada has a 52 week low of $103.64 and a 52 week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its 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 negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. The business’s quarterly revenue was down 10.9% compared to the same quarter last year.

Hedge Funds Weigh In On Franco-Nevada

A number of large investors have recently bought and sold shares of FNV. Essex Financial Services Inc. grew its position in shares of Franco-Nevada by 2.2% during the fourth quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock worth $458,000 after acquiring an additional 84 shares during the last quarter. Graham Capital Wealth Management LLC boosted its stake in Franco-Nevada by 0.4% during the 2nd quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company’s stock valued at $2,511,000 after purchasing an additional 86 shares during the period. Mutual Advisors LLC grew its position in Franco-Nevada by 4.0% in the 4th quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after purchasing an additional 96 shares during the last quarter. Sustainable Insight Capital Management LLC increased its stake in shares of Franco-Nevada by 2.7% in the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock valued at $441,000 after purchasing an additional 100 shares during the period. Finally, Huntington National Bank raised its holdings in shares of Franco-Nevada by 7.4% during the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after buying an additional 102 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.10%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

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.