Raymond James Increases Earnings Estimates for Franco-Nevada

Franco-Nevada Co. (NYSE:FNVFree Report) (TSE:FNV) – Raymond James lifted their FY2024 earnings per share (EPS) estimates for shares of Franco-Nevada in a report issued on Monday, January 27th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings per share of $3.19 for the year, up from their previous estimate of $3.12. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.18 per share. Raymond James also issued estimates for Franco-Nevada’s Q4 2024 earnings at $0.87 EPS, Q1 2025 earnings at $0.96 EPS, Q2 2025 earnings at $0.91 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $1.01 EPS and FY2025 earnings at $3.85 EPS.

Several other brokerages have also recently weighed in on FNV. UBS Group started coverage on Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price for the company. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Jefferies Financial Group lowered their price target on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Finally, HC Wainwright reissued a “buy” rating and set a $155.00 target price on shares of Franco-Nevada in a report on Tuesday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.

Read Our Latest Stock Report on FNV

Franco-Nevada Stock Performance

FNV opened at $136.30 on Wednesday. The stock’s 50 day moving average price is $123.15 and its 200-day moving average price is $124.20. Franco-Nevada has a one year low of $103.64 and a one year high of $137.76. The stock has a market cap of $26.24 billion, a price-to-earnings ratio of -43.13, a P/E/G ratio of 7.08 and a beta of 0.72.

Franco-Nevada (NYSE:FNVGet Free Report) (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 firm had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. Franco-Nevada’s quarterly revenue was down 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.06%. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Institutional Investors Weigh In On Franco-Nevada

Institutional investors have recently bought and sold shares of the company. Meixler Investment Management Ltd. lifted its position in shares of Franco-Nevada by 12.1% in the fourth quarter. Meixler Investment Management Ltd. now owns 24,760 shares of the basic materials company’s stock valued at $2,912,000 after acquiring an additional 2,674 shares in the last quarter. Allworth Financial LP lifted its holdings in Franco-Nevada by 643.3% in the 4th quarter. Allworth Financial LP now owns 3,895 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 3,371 shares in the last quarter. Principal Securities Inc. boosted its stake in Franco-Nevada by 290.5% during the 4th quarter. Principal Securities Inc. now owns 863 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 642 shares during the last quarter. Van ECK Associates Corp boosted its stake in Franco-Nevada by 2.3% during the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock worth $1,004,046,000 after purchasing an additional 193,968 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Franco-Nevada by 9,594.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 96,948 shares of the basic materials company’s stock worth $11,400,000 after buying an additional 95,948 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

About Franco-Nevada

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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.

See Also

Earnings History and Estimates for Franco-Nevada (NYSE:FNV)

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