FY2024 EPS Forecast for Franco-Nevada Increased by Analyst

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Stock analysts at HC Wainwright increased their FY2024 earnings estimates for Franco-Nevada in a research report issued to clients and investors 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 currently has a “Buy” rating and a $155.00 target price 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.

Several other research firms have also issued reports on FNV. Bank of America lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. Jefferies Financial Group dropped their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Scotiabank decreased their price target 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 upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, UBS Group began coverage on Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price for the company. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.33.

Franco-Nevada Price Performance

Shares of FNV opened at $117.44 on Monday. The business has a 50-day moving average of $124.48 and a 200-day moving average of $123.27. Franco-Nevada has a 1 year low of $103.64 and a 1 year high of $137.60. The company has a market capitalization of $22.61 billion, a price-to-earnings ratio of -37.16 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $279.11 million. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share.

Hedge Funds Weigh In On Franco-Nevada

A number of large investors have recently modified their holdings of the company. M&G PLC raised its holdings in Franco-Nevada by 3.2% during the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock worth $208,645,000 after buying an additional 51,996 shares during the last quarter. 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 acquiring an additional 706,919 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its position in Franco-Nevada by 1.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock valued at $116,277,000 after acquiring an additional 17,232 shares in the last quarter. Telemark Asset Management LLC boosted its stake in Franco-Nevada by 66.7% during the 3rd 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 last quarter. Finally, Victory Capital Management Inc. increased its holdings in Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after purchasing an additional 424,810 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.23%. 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.