Franco-Nevada FY2024 EPS Estimate Decreased by Scotiabank

Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV - Equities research analysts at Scotiabank lowered their FY2024 earnings estimates for shares of Franco-Nevada in a report released on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the basic materials company will post earnings per share of $3.19 for the year, down from their prior estimate of $3.39. Scotiabank currently has a "Sector Perform" rating and a $141.00 target price on the stock. The consensus estimate for Franco-Nevada's current full-year earnings is $3.22 per share.

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

A number of other equities analysts have also commented on the stock. Bank of America lowered shares of Franco-Nevada from a "buy" rating to a "neutral" rating and cut their price target for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. Jefferies Financial Group reduced their price target on Franco-Nevada from $137.00 to $136.00 and set a "hold" rating on the stock in a research report on Thursday, October 17th. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Finally, UBS Group assumed coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They set a "buy" rating and a $160.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $145.33.

Franco-Nevada Trading Down 2.1 %

NYSE:FNV traded down $2.64 during mid-day trading on Monday, hitting $124.39. 618,235 shares of the company's stock were exchanged, compared to its average volume of 715,549. Franco-Nevada has a fifty-two week low of $103.64 and a fifty-two week high of $137.60. The company has a 50 day simple moving average of $121.23 and a 200-day simple moving average of $123.63. The firm has a market capitalization of $23.94 billion, a P/E ratio of -39.36 and a beta of 0.72.

Hedge Funds Weigh In On Franco-Nevada

Several hedge funds have recently modified their holdings of the company. M&G PLC raised its position in Franco-Nevada by 3.2% in the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company's stock worth $208,645,000 after acquiring an additional 51,996 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of 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 worth $86,287,000 after purchasing an additional 706,919 shares during the period. Horizon Kinetics Asset Management LLC lifted its stake in Franco-Nevada by 1.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company's stock valued at $116,277,000 after purchasing an additional 17,232 shares during the last quarter. Telemark Asset Management LLC grew its holdings in Franco-Nevada by 66.7% during the third quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company's stock valued at $6,212,000 after purchasing an additional 20,000 shares during the period. Finally, Victory Capital Management Inc. increased its position in Franco-Nevada by 13.9% in the third 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. 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. Shareholders of record on Thursday, December 5th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Thursday, December 5th. Franco-Nevada's payout ratio is -45.57%.

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.