National Bank Financial Weighs in on Franco-Nevada Co.’s Q2 2024 Earnings (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Research analysts at National Bank Financial issued their Q2 2024 EPS estimates for shares of Franco-Nevada in a research report issued to clients and investors on Thursday, May 2nd. National Bank Financial analyst S. Nagle forecasts that the basic materials company will post earnings per share of $0.86 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.

A number of other research firms have also issued reports on FNV. Jefferies Financial Group raised their price target on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. TheStreet lowered shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Scotiabank raised their price target on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 18th. Raymond James raised their price target on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Finally, HC Wainwright boosted their target price on shares of Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Monday. Six investment 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, Franco-Nevada currently has a consensus rating of “Hold” and a consensus price target of $148.60.

Franco-Nevada Trading Down 0.1 %

FNV opened at $126.05 on Monday. Franco-Nevada has a 12-month low of $102.29 and a 12-month high of $161.25. The firm has a market capitalization of $24.24 billion, a PE ratio of -50.62, a P/E/G ratio of 6.29 and a beta of 0.72. The firm has a 50 day moving average of $117.54 and a two-hundred day moving average of $114.74.

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

Hedge Funds Weigh In On Franco-Nevada

Large investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its position in Franco-Nevada by 15.6% during the fourth quarter. Mackenzie Financial Corp now owns 1,472,264 shares of the basic materials company’s stock worth $163,156,000 after acquiring an additional 198,144 shares during the period. Vanguard Group Inc. grew its holdings in shares of Franco-Nevada by 1.6% during the third quarter. Vanguard Group Inc. now owns 7,104,384 shares of the basic materials company’s stock worth $948,364,000 after buying an additional 112,274 shares in the last quarter. Beddow Capital Management Inc. grew its holdings in shares of Franco-Nevada by 3.8% during the fourth quarter. Beddow Capital Management Inc. now owns 56,639 shares of the basic materials company’s stock worth $6,276,000 after buying an additional 2,059 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Franco-Nevada by 11.9% during the third quarter. Invesco Ltd. now owns 491,631 shares of the basic materials company’s stock worth $65,628,000 after buying an additional 52,401 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Franco-Nevada by 0.4% during the third quarter. TD Asset Management Inc now owns 2,232,515 shares of the basic materials company’s stock worth $299,425,000 after buying an additional 9,482 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, June 13th. Franco-Nevada’s dividend payout ratio is presently -57.83%.

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.