FY2024 EPS Estimates for Franco-Nevada Cut by Analyst

Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV - Investment analysts at National Bank Financial decreased their FY2024 earnings per share (EPS) estimates for Franco-Nevada in a research note issued to investors on Monday, February 10th. National Bank Financial analyst S. Nagle now forecasts that the basic materials company will post earnings of $3.19 per share for the year, down from their previous forecast of $3.27. The consensus estimate for Franco-Nevada's current full-year earnings is $3.10 per share. National Bank Financial also issued estimates for Franco-Nevada's Q4 2024 earnings at $0.89 EPS and FY2025 earnings at $4.57 EPS.

FNV has been the subject of several other research reports. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. UBS Group began coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They set a "buy" rating and a $160.00 price target for the company. Scotiabank decreased their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a research note on Friday, November 8th. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Finally, Royal Bank of Canada lifted their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research note on Tuesday. Five 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 a consensus rating of "Moderate Buy" and an average target price of $146.71.

Franco-Nevada Price Performance

Shares of NYSE:FNV traded down $5.61 during trading hours on Wednesday, hitting $138.37. 614,397 shares of the company's stock traded hands, compared to its average volume of 604,619. Franco-Nevada has a 1 year low of $103.64 and a 1 year high of $144.27. The business has a fifty day moving average price of $127.17 and a 200-day moving average price of $125.32. The firm has a market capitalization of $26.64 billion, a P/E ratio of -43.79, a price-to-earnings-growth ratio of 9.88 and a beta of 0.74.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.38 dividend. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a yield of 1.10%. Franco-Nevada's payout ratio is -45.57%.

Hedge Funds Weigh In On Franco-Nevada

Large investors have recently bought and sold shares of the business. Wahed Invest LLC increased its position in shares of Franco-Nevada by 12.4% during the fourth quarter. Wahed Invest LLC now owns 2,883 shares of the basic materials company's stock worth $339,000 after purchasing an additional 319 shares in the last quarter. Hutner Capital Management Inc. increased its position in shares of Franco-Nevada by 14.2% during the fourth quarter. Hutner Capital Management Inc. now owns 39,848 shares of the basic materials company's stock worth $4,686,000 after purchasing an additional 4,968 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Franco-Nevada by 13.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,268 shares of the basic materials company's stock worth $267,000 after purchasing an additional 271 shares in the last quarter. Parvin Asset Management LLC acquired a new position in shares of Franco-Nevada during the fourth quarter worth $543,000. Finally, Regal Partners Ltd acquired a new position in shares of Franco-Nevada during the fourth quarter worth $2,352,000. Institutional investors own 77.06% of the company's stock.

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.