HC Wainwright Comments on Franco-Nevada Co.’s FY2024 Earnings (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Investment analysts at HC Wainwright boosted their FY2024 earnings estimates for Franco-Nevada in a report issued on Monday, May 6th. HC Wainwright analyst H. Ihle now expects that the basic materials company will post earnings of $2.87 per share for the year, up from their previous forecast of $1.59. HC Wainwright currently has a “Buy” rating and a $185.00 price target on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $2.97 per share. HC Wainwright also issued estimates for Franco-Nevada’s FY2025 earnings at $3.09 EPS.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $256.80 million during the quarter, compared to the consensus estimate of $250.50 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The firm’s revenue was down 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.79 earnings per share.

Other research analysts also recently issued reports about the company. Raymond James upped their target price on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Jefferies Financial Group upped their target price on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Bank of America lowered their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Finally, Scotiabank lifted their price target on Franco-Nevada from $139.00 to $140.00 and gave the company 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $148.60.

Franco-Nevada Stock Performance

NYSE:FNV opened at $126.36 on Thursday. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $160.86. The firm’s fifty day moving average is $117.97 and its 200-day moving average is $114.82. The firm has a market cap of $24.30 billion, a P/E ratio of -50.75, a P/E/G ratio of 6.29 and a beta of 0.72.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, June 13th. Franco-Nevada’s payout ratio is currently -57.83%.

Institutional Trading of Franco-Nevada

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Franco-Nevada in the 4th quarter valued at about $221,351,000. Capital World Investors grew its holdings in shares of Franco-Nevada by 45.8% in the fourth quarter. Capital World Investors now owns 4,477,105 shares of the basic materials company’s stock worth $495,909,000 after purchasing an additional 1,405,731 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Franco-Nevada by 39.5% in the fourth quarter. First Eagle Investment Management LLC now owns 3,150,097 shares of the basic materials company’s stock worth $348,940,000 after buying an additional 891,164 shares during the period. Van ECK Associates Corp raised its holdings in Franco-Nevada by 9.9% during the 4th quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company’s stock valued at $972,707,000 after buying an additional 789,070 shares during the last quarter. Finally, FIL Ltd boosted its position in Franco-Nevada by 7.8% during the 4th quarter. FIL Ltd now owns 9,079,951 shares of the basic materials company’s stock valued at $1,005,852,000 after buying an additional 659,324 shares during the period. Hedge funds and other 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.