Franco-Nevada FY2024 EPS Forecast Boosted by Raymond James

Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV - Equities researchers at Raymond James increased their FY2024 earnings estimates for Franco-Nevada in a research note issued to investors on Monday, January 27th. Raymond James analyst B. Macarthur now expects that the basic materials company will earn $3.19 per share for the year, up from their previous estimate of $3.12. The consensus estimate for Franco-Nevada's current full-year earnings is $3.18 per share. Raymond James also issued estimates for Franco-Nevada's Q4 2024 earnings at $0.87 EPS, Q1 2025 earnings at $0.96 EPS, Q2 2025 earnings at $0.91 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $1.01 EPS and FY2025 earnings at $3.85 EPS.

FNV has been the topic of several other reports. Jefferies Financial Group cut 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. Scotiabank lowered their price objective on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a report on Friday, November 8th. UBS Group initiated coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They issued a "buy" rating and a $160.00 price target on the stock. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Finally, Bank of America cut shares of Franco-Nevada from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. 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 company currently has an average rating of "Moderate Buy" and a consensus target price of $145.33.

Franco-Nevada Stock Performance

FNV traded up $0.24 during trading on Wednesday, hitting $130.90. 1,175,136 shares of the stock were exchanged, compared to its average volume of 626,896. The firm has a market cap of $25.20 billion, a price-to-earnings ratio of -41.42, a P/E/G ratio of 7.08 and a beta of 0.72. Franco-Nevada has a 1 year low of $103.64 and a 1 year high of $137.60. The firm has a 50 day simple moving average of $122.89 and a 200 day simple moving average of $124.12.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS 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 during the quarter, compared to the consensus estimate of $279.11 million. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The business's revenue was down 10.9% compared to the same quarter last year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FNV. Essex Financial Services Inc. increased its stake in Franco-Nevada by 2.2% in the fourth quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company's stock valued at $458,000 after purchasing an additional 84 shares in the last quarter. Graham Capital Wealth Management LLC boosted its stake in Franco-Nevada by 0.4% during the second quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company's stock valued at $2,511,000 after buying an additional 86 shares during the period. Mutual Advisors LLC raised its stake in Franco-Nevada by 4.0% in the fourth quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company's stock valued at $309,000 after purchasing an additional 96 shares in the last quarter. Sustainable Insight Capital Management LLC increased its stake in Franco-Nevada by 2.7% in the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company's stock valued at $441,000 after acquiring an additional 100 shares during the last quarter. Finally, Huntington National Bank grew its holdings in shares of Franco-Nevada by 7.4% during the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company's stock valued at $185,000 after purchasing an additional 102 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.44 annualized dividend and a yield of 1.10%. Franco-Nevada's dividend payout ratio (DPR) 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.