Brokers Set Expectations for Franco-Nevada Co.’s Q2 2024 Earnings (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Investment analysts at Raymond James upped their Q2 2024 earnings estimates for Franco-Nevada in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now forecasts that the basic materials company will earn $0.84 per share for the quarter, up from their previous forecast of $0.71. Raymond James has a “Outperform” rating and a $141.00 price objective on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $2.90 per share. Raymond James also issued estimates for Franco-Nevada’s Q3 2024 earnings at $0.81 EPS and Q4 2024 earnings at $0.81 EPS.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The company had revenue of $303.30 million during the quarter.

Several other equities research analysts also recently weighed in on FNV. TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Jefferies Financial Group increased their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Bank of America decreased their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Finally, Scotiabank increased their target price on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Franco-Nevada currently has an average rating of “Hold” and a consensus target price of $148.60.

Franco-Nevada Price Performance

NYSE FNV opened at $122.93 on Thursday. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $161.25. The company has a market capitalization of $23.64 billion, a PE ratio of -50.59, a P/E/G ratio of 6.21 and a beta of 0.71. The company has a fifty day moving average of $115.03 and a two-hundred day moving average of $115.87.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. VisionPoint Advisory Group LLC purchased a new position in Franco-Nevada in the third quarter valued at about $30,000. Castleview Partners LLC purchased a new position in Franco-Nevada in the third quarter valued at about $33,000. Creative Financial Designs Inc. ADV purchased a new position in Franco-Nevada in the fourth quarter valued at about $34,000. FinTrust Capital Advisors LLC increased its holdings in Franco-Nevada by 209.0% in the third quarter. FinTrust Capital Advisors LLC now owns 309 shares of the basic materials company’s stock valued at $41,000 after buying an additional 209 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Franco-Nevada by 5,750.0% in the fourth quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after buying an additional 345 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio (DPR) is presently -55.97%.

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.