Stifel Canada Forecasts Franco-Nevada Q3 Earnings

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Equities research analysts at Stifel Canada issued their Q3 2024 earnings estimates for shares of Franco-Nevada in a research report issued to clients and investors on Monday, October 21st. Stifel Canada analyst I. Rico anticipates that the basic materials company will post earnings per share of $0.85 for the quarter. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.26 per share. Stifel Canada also issued estimates for Franco-Nevada’s FY2024 earnings at $3.46 EPS.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The company had revenue of $260.10 million during the quarter, compared to the consensus estimate of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The business’s revenue was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 earnings per share.

Several other analysts have also recently issued reports on the company. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Scotiabank increased their price objective on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. Jefferies Financial Group lowered their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Finally, TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $152.75.

Franco-Nevada Trading Up 0.2 %

NYSE:FNV opened at $136.25 on Wednesday. The business’s 50-day moving average is $124.31 and its 200 day moving average is $123.09. Franco-Nevada has a 12 month low of $102.29 and a 12 month high of $139.93. The company has a market capitalization of $26.22 billion, a P/E ratio of -54.72, a P/E/G ratio of 20.13 and a beta of 0.76.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its position in Franco-Nevada by 0.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock valued at $1,456,208,000 after purchasing an additional 64,429 shares in the last quarter. Van ECK Associates Corp grew its holdings in Franco-Nevada by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock worth $1,022,452,000 after acquiring an additional 151,566 shares in the last quarter. Vanguard Group Inc. increased its position in Franco-Nevada by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock valued at $878,696,000 after purchasing an additional 129,876 shares during the period. Capital World Investors raised its holdings in shares of Franco-Nevada by 2.7% in the 1st quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company’s stock valued at $547,807,000 after purchasing an additional 120,367 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in shares of Franco-Nevada by 1.5% during the second quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company’s stock valued at $386,597,000 after purchasing an additional 47,311 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, September 12th. Franco-Nevada’s dividend payout ratio (DPR) is presently -57.83%.

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.