Franco-Nevada Co. to Post Q2 2024 Earnings of $0.84 Per Share, Raymond James Forecasts (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Stock analysts at Raymond James boosted their Q2 2024 earnings per share estimates for shares of Franco-Nevada in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings per share of $0.84 for the quarter, up from their prior forecast of $0.71. Raymond James has a “Outperform” rating and a $141.00 price objective on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $2.90 per share. Raymond James also issued estimates for Franco-Nevada’s Q3 2024 earnings at $0.81 EPS and Q4 2024 earnings at $0.81 EPS.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The firm had revenue of $303.30 million for the quarter.

Other equities research analysts also recently issued research reports about the company. Bank of America reduced their target price on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Jefferies Financial Group raised their target price on Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a report on Monday. Scotiabank raised their target price on Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a report on Thursday, April 18th. Finally, TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Six 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 company currently has a consensus rating of “Hold” and an average price target of $148.60.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $118.96 on Thursday. The stock’s fifty day moving average price is $114.55 and its two-hundred day moving average price is $115.81. Franco-Nevada has a one year low of $102.29 and a one year high of $161.25.

Institutional Investors Weigh In On Franco-Nevada

Several hedge funds have recently modified their holdings of FNV. VisionPoint Advisory Group LLC acquired a new position in Franco-Nevada during the 3rd quarter worth about $30,000. Castleview Partners LLC acquired a new position in Franco-Nevada during the 3rd quarter worth about $33,000. Creative Financial Designs Inc. ADV acquired a new position in Franco-Nevada during the 4th quarter worth about $34,000. Allworth Financial LP lifted its holdings in Franco-Nevada by 5,750.0% during the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock worth $39,000 after buying an additional 345 shares during the period. Finally, Fortis Group Advisors LLC lifted its holdings in Franco-Nevada by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock worth $39,000 after buying an additional 176 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.36 per share. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.21%. Franco-Nevada’s dividend payout ratio (DPR) is -55.97%.

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.