Analysts Offer Predictions for Franco-Nevada FY2024 Earnings

Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV - Analysts at HC Wainwright upped their FY2024 earnings per share (EPS) estimates for shares of Franco-Nevada in a research report issued to clients and investors on Friday, December 20th. HC Wainwright analyst H. Ihle now expects that the basic materials company will post earnings per share of $2.81 for the year, up from their previous forecast of $2.78. HC Wainwright currently 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.

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

FNV has been the subject of a number of other reports. Scotiabank decreased their price objective 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. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Bank of America cut Franco-Nevada from a "buy" rating to a "neutral" rating and reduced their target price for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Finally, UBS Group assumed coverage on shares of Franco-Nevada in a report on Monday, November 18th. They set a "buy" rating and a $160.00 price target for the company. 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $145.33.

Franco-Nevada Stock Up 1.1 %

NYSE FNV traded up $1.23 on Monday, hitting $117.44. The company's stock had a trading volume of 500,703 shares, compared to its average volume of 663,264. The firm has a market cap of $22.61 billion, a PE ratio of -37.16 and a beta of 0.72. The company's 50-day moving average is $124.48 and its 200 day moving average is $123.27. Franco-Nevada has a 1-year low of $103.64 and a 1-year high of $137.60.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, December 5th. Franco-Nevada's dividend payout ratio (DPR) is -45.57%.

Institutional Investors Weigh In On Franco-Nevada

A number of large investors have recently bought and sold shares of FNV. Mechanics Financial Corp boosted its position 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 in the last quarter. Kings Path Partners LLC bought a new position in Franco-Nevada in the second quarter worth approximately $36,000. Sunbelt Securities Inc. grew its stake in Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company's stock valued at $49,000 after acquiring an additional 400 shares during the period. Point72 DIFC Ltd acquired a new stake in Franco-Nevada in the third quarter valued at approximately $52,000. Finally, Erste Asset Management GmbH bought a new stake in shares of Franco-Nevada during the third quarter valued at approximately $55,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.