Raymond James Boosts Earnings Estimates for Franco-Nevada

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Analysts at Raymond James raised their FY2024 earnings estimates for shares of Franco-Nevada in a report issued on Monday, January 27th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings per share of $3.19 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 a number of other research reports. Scotiabank cut their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. HC Wainwright reiterated a “buy” rating and set a $155.00 price target on shares of Franco-Nevada in a report on Tuesday. Canaccord Genuity Group raised 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 research report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.33.

Franco-Nevada Trading Up 0.2 %

FNV stock opened at $130.90 on Wednesday. Franco-Nevada has a one year low of $103.64 and a one year high of $137.60. The firm has a 50-day moving average of $122.89 and a two-hundred day moving average of $124.12. The firm has a market capitalization of $25.20 billion, a PE ratio of -41.42, a P/E/G ratio of 7.08 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). The company had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 earnings per share.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $0.36 dividend. The ex-dividend date was Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.10%. Franco-Nevada’s payout ratio is -45.57%.

Hedge Funds Weigh In On Franco-Nevada

A number of hedge funds have recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Franco-Nevada by 76.5% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock valued at $159,530,000 after acquiring an additional 556,894 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in Franco-Nevada by 19.4% during the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after purchasing an additional 537,047 shares during the period. Victory Capital Management Inc. grew its holdings in Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after purchasing an additional 424,810 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Franco-Nevada by 60.1% in the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock valued at $119,069,000 after purchasing an additional 359,900 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in shares of Franco-Nevada by 4,361.2% in the second quarter. Clearbridge Investments LLC now owns 275,571 shares of the basic materials company’s stock worth $32,659,000 after buying an additional 269,394 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

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.