Analysts Issue Forecasts for Franco-Nevada FY2024 Earnings

Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) – Investment analysts at National Bank Financial cut their FY2024 earnings estimates for shares of Franco-Nevada in a research report issued on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings of $4.64 per share for the year, down from their prior forecast of $4.71. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.11 per share.

FNV has been the subject of several other reports. National Bankshares lowered their target price on Franco-Nevada from C$200.00 to C$195.00 in a report on Thursday, August 15th. CIBC raised their price target on Franco-Nevada from C$250.00 to C$265.00 in a report on Wednesday, July 10th. BMO Capital Markets boosted their target price on Franco-Nevada from C$200.00 to C$210.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Stifel Nicolaus upped their price objective on Franco-Nevada from C$200.00 to C$215.00 in a report on Monday. Finally, Canaccord Genuity Group boosted their target price on shares of Franco-Nevada from C$177.00 to C$190.00 in a report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$192.80.

Franco-Nevada Stock Down 0.2 %

Shares of TSE:FNV opened at C$188.11 on Thursday. The company’s fifty day moving average is C$168.86 and its two-hundred day moving average is C$168.01. The company has a debt-to-equity ratio of 1.63, a quick ratio of 23.26 and a current ratio of 29.11. Franco-Nevada has a 1-year low of C$139.19 and a 1-year high of C$193.01. The stock has a market capitalization of C$36.20 billion, a price-to-earnings ratio of -44.89, a price-to-earnings-growth ratio of 5.00 and a beta of 0.68.

Franco-Nevada (TSE:FNV) (NYSE:FNV) last issued its earnings results on Tuesday, August 13th. The company reported C$1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.07 by C($0.04). The company had revenue of C$355.88 million during the quarter. Franco-Nevada had a negative net margin of 51.92% and a negative return on equity of 9.32%.

Insider Activity

In other Franco-Nevada news, Director Nicholas Hugo Housby Dryland acquired 805 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were purchased at an average price of C$168.95 per share, with a total value of C$136,001.53. Following the completion of the transaction, the director now owns 805 shares in the company, valued at C$136,001.53. 0.69% of the stock is owned by corporate insiders.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.497 per share. The ex-dividend date was Thursday, September 12th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.49. This represents a $1.99 dividend on an annualized basis and a dividend yield of 1.06%. Franco-Nevada’s dividend payout ratio (DPR) is -46.30%.

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.