Franco-Nevada Co. Expected to Earn Q3 2024 Earnings of $0.89 Per Share (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Stock analysts at Raymond James lifted their Q3 2024 earnings per share estimates for shares of Franco-Nevada in a research report issued to clients and investors on Monday, September 23rd. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings per share of $0.89 for the quarter, up from their previous estimate of $0.84. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.23 per share. Raymond James also issued estimates for Franco-Nevada’s Q4 2024 earnings at $0.91 EPS, FY2024 earnings at $3.31 EPS, Q1 2025 earnings at $0.85 EPS, Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $1.00 EPS and FY2025 earnings at $3.71 EPS.

FNV has been the topic of a number of other reports. Jefferies Financial Group raised their price target on Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Bank of America boosted their target price on Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.75.

Franco-Nevada Trading Down 2.5 %

Franco-Nevada stock opened at $125.52 on Thursday. The company has a fifty day simple moving average of $123.54 and a 200-day simple moving average of $121.97. The stock has a market cap of $24.15 billion, a P/E ratio of -50.41, a price-to-earnings-growth ratio of 21.28 and a beta of 0.76. Franco-Nevada has a 12-month low of $102.29 and a 12-month high of $142.60.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FNV. Scotia Capital Inc. boosted its stake in shares of Franco-Nevada by 27.1% in the fourth quarter. Scotia Capital Inc. now owns 149,153 shares of the basic materials company’s stock valued at $16,474,000 after buying an additional 31,796 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Franco-Nevada by 108.1% during the 4th quarter. Allianz Asset Management GmbH now owns 455,239 shares of the basic materials company’s stock worth $50,671,000 after purchasing an additional 236,503 shares in the last quarter. Alberta Investment Management Corp grew its stake in shares of Franco-Nevada by 2.3% during the 4th quarter. Alberta Investment Management Corp now owns 447,633 shares of the basic materials company’s stock worth $49,825,000 after purchasing an additional 10,250 shares during the period. Bornite Capital Management LP acquired a new position in shares of Franco-Nevada during the 4th quarter worth $8,167,000. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Franco-Nevada in the 1st quarter valued at about $8,340,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.15%. Franco-Nevada’s payout ratio is -57.83%.

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.