Stifel Canada Comments on Franco-Nevada Q3 Earnings

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Investment analysts at Stifel Canada issued their Q3 2024 earnings estimates for Franco-Nevada in a research report issued to clients and investors on Monday, October 21st. Stifel Canada analyst I. Rico forecasts that the basic materials company will earn $0.85 per share for the quarter. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.26 per share. Stifel Canada also issued estimates for Franco-Nevada’s FY2024 earnings at $3.46 EPS.

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

Several other research firms also recently weighed in on FNV. Jefferies Financial Group lowered their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. HC Wainwright restated a “buy” rating and set a $185.00 price objective on shares of Franco-Nevada in a report on Friday, August 16th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $152.75.

Franco-Nevada Stock Down 0.3 %

Shares of NYSE FNV opened at $135.82 on Wednesday. The firm has a market cap of $26.14 billion, a PE ratio of -54.55, a P/E/G ratio of 20.13 and a beta of 0.76. Franco-Nevada has a 12-month low of $102.29 and a 12-month high of $139.93. The company’s fifty day simple moving average is $124.63 and its 200 day simple moving average is $123.18.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given 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 yield of 1.06%. Franco-Nevada’s payout ratio is currently -57.83%.

Hedge Funds Weigh In On Franco-Nevada

Several institutional investors have recently added to or reduced their stakes in FNV. Allspring Global Investments Holdings LLC bought a new position in Franco-Nevada during the second quarter valued at about $276,446,000. M&G Plc bought a new position in Franco-Nevada during the first quarter worth about $219,971,000. EdgePoint Investment Group Inc. boosted its position in Franco-Nevada by 68.1% during the first quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock worth $328,972,000 after purchasing an additional 1,117,523 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Franco-Nevada by 3,404.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock worth $86,287,000 after purchasing an additional 706,919 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Franco-Nevada during the first quarter worth about $47,681,000. 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.