FY2024 EPS Forecast for Franco-Nevada Reduced by Analyst

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Equities researchers at National Bank Financial lowered their FY2024 EPS estimates for shares of Franco-Nevada in a report issued on Thursday, November 7th. National Bank Financial analyst S. Nagle now expects that the basic materials company will earn $3.27 per share for the year, down from their prior estimate of $3.36. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.25 per share. National Bank Financial also issued estimates for Franco-Nevada’s Q4 2024 earnings at $0.96 EPS and FY2025 earnings at $4.27 EPS.

FNV has been the topic of several other reports. Bank of America lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price target for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. HC Wainwright raised their price objective on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group decreased their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.57.

Franco-Nevada Price Performance

FNV stock opened at $114.95 on Monday. The firm’s fifty day simple moving average is $126.49 and its 200-day simple moving average is $124.12. Franco-Nevada has a 12 month low of $102.29 and a 12 month high of $137.60. The company has a market capitalization of $22.13 billion, a P/E ratio of -36.38, a price-to-earnings-growth ratio of 20.59 and a beta of 0.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced 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 positive return on equity of 10.63% and a negative net margin of 55.28%. The firm had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year.

Institutional Trading of Franco-Nevada

Several institutional investors have recently modified their holdings of FNV. Cerity Partners LLC raised its position in shares of Franco-Nevada by 28.4% during the 3rd quarter. Cerity Partners LLC now owns 3,581 shares of the basic materials company’s stock worth $445,000 after purchasing an additional 791 shares during the last quarter. Icon Wealth Advisors LLC acquired a new position in shares of Franco-Nevada during the third quarter valued at approximately $158,000. Telemark Asset Management LLC raised its holdings in shares of Franco-Nevada by 66.7% during the third quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock valued at $6,212,000 after acquiring an additional 20,000 shares during the last quarter. Citigroup Inc. lifted its position in shares of Franco-Nevada by 33.1% in the third quarter. Citigroup Inc. now owns 36,710 shares of the basic materials company’s stock valued at $4,565,000 after acquiring an additional 9,119 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Franco-Nevada by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 407,137 shares of the basic materials company’s stock worth $50,623,000 after acquiring an additional 19,589 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.25%. Franco-Nevada’s dividend payout ratio (DPR) is -45.57%.

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.