FY2024 EPS Estimates for Franco-Nevada Lifted by Analyst

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Raymond James raised their FY2024 earnings per share (EPS) estimates for Franco-Nevada in a note issued to investors on Monday, January 27th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings per share of $3.19 for the year, up from their prior forecast 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.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. During the same quarter in the previous year, the business earned $0.91 EPS. The company’s quarterly revenue was down 10.9% on a year-over-year basis.

Several other brokerages have also recently issued reports on FNV. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Scotiabank reduced their price objective on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. HC Wainwright reiterated a “buy” rating and set a $155.00 target price on shares of Franco-Nevada in a research report on Tuesday. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Finally, UBS Group assumed coverage on shares of 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.33.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $130.79 on Wednesday. The company has a market cap of $25.17 billion, a P/E ratio of -41.39, a P/E/G ratio of 7.08 and a beta of 0.72. Franco-Nevada has a 52-week low of $103.64 and a 52-week high of $137.60. The firm’s fifty day moving average is $122.70 and its two-hundred day moving average is $124.07.

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 paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, December 5th. Franco-Nevada’s dividend payout ratio is currently -45.57%.

Institutional Investors Weigh In On Franco-Nevada

Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in Franco-Nevada by 13.9% in the third 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 during the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Franco-Nevada by 19.4% in 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 buying an additional 537,047 shares during the period. M&G PLC lifted its stake in shares of Franco-Nevada by 3.2% during the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock worth $208,645,000 after acquiring an additional 51,996 shares during the last quarter. National Bank of Canada FI boosted its holdings in Franco-Nevada by 2.2% during the 3rd quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company’s stock valued at $171,513,000 after acquiring an additional 29,512 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Franco-Nevada by 76.5% in 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. Institutional investors own 77.06% of the company’s stock.

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.