Franco-Nevada Q3 EPS Lowered by National Bank Financial

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Equities researchers at National Bank Financial cut their Q3 2024 earnings estimates for Franco-Nevada in a report issued on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now forecasts that the basic materials company will earn $0.87 per share for the quarter, down from their previous estimate of $0.93. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.26 per share. National Bank Financial also issued estimates for Franco-Nevada’s FY2025 earnings at $4.12 EPS.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The company had revenue of $260.10 million during the quarter, compared to analyst estimates of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The business’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.95 earnings per share.

A number of other analysts have also recently commented on FNV. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and cut their price target for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. HC Wainwright reissued a “buy” rating and set a $185.00 price objective on shares of Franco-Nevada in a research report on Friday, August 16th. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.75.

Franco-Nevada Trading Down 0.3 %

Shares of FNV opened at $135.82 on Friday. The stock has a market capitalization of $26.14 billion, a P/E ratio of -54.55, a price-to-earnings-growth ratio of 20.13 and a beta of 0.76. The firm’s fifty day simple moving average is $124.63 and its two-hundred day simple moving average is $123.18. Franco-Nevada has a 12 month low of $102.29 and a 12 month high of $139.93.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.44 annualized dividend and a dividend yield of 1.06%. Franco-Nevada’s payout ratio is currently -57.83%.

Institutional Investors Weigh In On Franco-Nevada

Several large investors have recently modified their holdings of the stock. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Franco-Nevada during the 3rd quarter worth approximately $362,000. Graham Capital Wealth Management LLC grew its stake in Franco-Nevada by 3.6% in the 3rd quarter. Graham Capital Wealth Management LLC now owns 21,955 shares of the basic materials company’s stock valued at $2,728,000 after buying an additional 772 shares in the last quarter. Fortune Financial Advisors LLC grew its stake in Franco-Nevada by 4.5% in the 3rd quarter. Fortune Financial Advisors LLC now owns 5,293 shares of the basic materials company’s stock valued at $658,000 after buying an additional 228 shares in the last quarter. Clear Harbor Asset Management LLC grew its stake in Franco-Nevada by 1.1% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 11,961 shares of the basic materials company’s stock valued at $1,486,000 after buying an additional 130 shares in the last quarter. Finally, PFG Investments LLC grew its stake in Franco-Nevada by 7.4% in the 3rd quarter. PFG Investments LLC now owns 6,089 shares of the basic materials company’s stock valued at $757,000 after buying an additional 420 shares in the last quarter. Hedge funds and other institutional investors 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.