HC Wainwright Raises Earnings Estimates for Franco-Nevada

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Equities research analysts at HC Wainwright increased their FY2024 EPS estimates for shares of Franco-Nevada in a report released on Friday, December 20th. HC Wainwright analyst H. Ihle now forecasts that the basic materials company will post earnings of $2.81 per share for the year, up from their previous estimate of $2.78. HC Wainwright currently has a “Buy” rating and a $155.00 target price on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.22 per share. HC Wainwright also issued estimates for Franco-Nevada’s FY2025 earnings at $3.68 EPS.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Jefferies Financial Group dropped their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. UBS Group assumed coverage on Franco-Nevada in a research report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price on the stock. Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.33.

Franco-Nevada Trading Up 0.9 %

Shares of FNV opened at $116.21 on Monday. The company’s 50-day moving average price is $124.60 and its 200 day moving average price is $123.30. Franco-Nevada has a 12-month low of $103.64 and a 12-month high of $137.60. The firm has a market cap of $22.37 billion, a P/E ratio of -36.78 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The business had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS.

Hedge Funds Weigh In On Franco-Nevada

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mechanics Financial Corp raised its holdings in Franco-Nevada by 150.0% in the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 150 shares in the last quarter. Kings Path Partners LLC purchased a new stake in shares of Franco-Nevada in the 2nd quarter valued at approximately $36,000. Sunbelt Securities Inc. raised its holdings in shares of Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 400 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Franco-Nevada during the 3rd quarter worth $52,000. Finally, Erste Asset Management GmbH acquired a new position in shares of Franco-Nevada during the third quarter worth $55,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s dividend payout ratio is currently -45.57%.

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.