Franco-Nevada Co. to Post Q2 2024 Earnings of $0.86 Per Share, National Bank Financial Forecasts (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Equities research analysts at National Bank Financial issued their Q2 2024 earnings estimates for shares of Franco-Nevada in a report issued on Thursday, May 2nd. National Bank Financial analyst S. Nagle anticipates that the basic materials company will earn $0.86 per share for the quarter. The consensus estimate for Franco-Nevada’s current full-year earnings is $2.97 per share. National Bank Financial also issued estimates for Franco-Nevada’s Q3 2024 earnings at $0.88 EPS.

FNV has been the topic of several other research reports. TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Raymond James boosted their price target on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. HC Wainwright raised their price objective on Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Monday. Scotiabank boosted their target price on Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 18th. Finally, Bank of America cut their price target on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a report on Monday, March 18th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Franco-Nevada presently has a consensus rating of “Hold” and an average price target of $148.60.

Franco-Nevada Price Performance

FNV stock opened at $126.19 on Monday. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $161.25. The business has a 50 day simple moving average of $117.12 and a two-hundred day simple moving average of $114.83. The company has a market capitalization of $24.27 billion, a price-to-earnings ratio of -50.68, a PEG ratio of 6.29 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $256.80 million during the quarter, compared to analyst estimates of $250.50 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 earnings per share.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, June 13th. Franco-Nevada’s dividend payout ratio (DPR) is -54.62%.

Hedge Funds Weigh In On Franco-Nevada

Several large investors have recently modified their holdings of the stock. Raymond James & Associates raised its position in Franco-Nevada by 0.3% in the 3rd quarter. Raymond James & Associates now owns 207,628 shares of the basic materials company’s stock worth $27,716,000 after purchasing an additional 623 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Franco-Nevada by 5.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 12,883 shares of the basic materials company’s stock worth $1,720,000 after buying an additional 718 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of Franco-Nevada by 86.7% in the third quarter. Stratos Wealth Partners LTD. now owns 7,326 shares of the basic materials company’s stock worth $978,000 after buying an additional 3,403 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Franco-Nevada by 73.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 121,781 shares of the basic materials company’s stock worth $16,333,000 after acquiring an additional 51,705 shares during the last quarter. Finally, Castleview Partners LLC purchased a new position in Franco-Nevada during the 3rd quarter valued at $33,000. Institutional investors own 77.06% of the company’s stock.

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.