FY2024 EPS Forecast for Franco-Nevada Increased by Analyst

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Investment analysts at HC Wainwright increased their FY2024 earnings per share estimates for Franco-Nevada in a research note issued on Friday, December 20th. HC Wainwright analyst H. Ihle now anticipates that the basic materials company will post earnings per share of $2.81 for the year, up from their previous estimate of $2.78. HC Wainwright has a “Buy” rating and a $155.00 price target on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.22 per share. HC Wainwright also issued estimates for Franco-Nevada’s FY2025 earnings at $3.68 EPS.

A number of other equities analysts have also recently weighed in on FNV. Jefferies Financial Group reduced their price target on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their price target for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. UBS Group initiated coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective for the company. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus target price of $145.33.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock opened at $116.21 on Monday. The firm has a 50-day simple moving average of $124.60 and a two-hundred day simple moving average of $123.30. Franco-Nevada has a fifty-two week low of $103.64 and a fifty-two week high of $137.60. The company has a market cap of $22.37 billion, a P/E ratio of -36.78 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). The firm had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share.

Institutional Trading of Franco-Nevada

Several large investors have recently bought and sold shares of FNV. Mechanics Financial Corp boosted its holdings in shares of Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 150 shares during the last quarter. Kings Path Partners LLC acquired a new position in Franco-Nevada during the second quarter worth $36,000. Sunbelt Securities Inc. boosted its stake in Franco-Nevada by 3,333.3% during the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after buying an additional 400 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Franco-Nevada in the 3rd quarter valued at $52,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of Franco-Nevada in the 3rd quarter worth $55,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, December 5th. Franco-Nevada’s dividend payout ratio is currently -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.