Franco-Nevada Co. to Post FY2024 Earnings of $2.87 Per Share, HC Wainwright Forecasts (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Research analysts at HC Wainwright boosted their FY2024 earnings estimates for Franco-Nevada in a research report issued to clients and investors on Monday, May 6th. HC Wainwright analyst H. Ihle now anticipates that the basic materials company will earn $2.87 per share for the year, up from their previous estimate of $1.59. HC Wainwright currently has a “Buy” rating and a $185.00 target price on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $2.97 per share. HC Wainwright also issued estimates for Franco-Nevada’s FY2025 earnings at $3.09 EPS.

FNV has been the topic of several other research reports. Raymond James upped their price target on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Bank of America cut their price objective on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Scotiabank upped their price target on Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research report on Thursday, April 18th. TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Finally, Jefferies Financial Group raised their price target on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Franco-Nevada currently has an average rating of “Hold” and a consensus price target of $148.60.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $126.36 on Thursday. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $160.86. The business’s fifty day moving average is $117.97 and its 200-day moving average is $114.82. The stock has a market cap of $24.30 billion, a PE ratio of -50.75, a price-to-earnings-growth ratio of 6.29 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating 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 negative net margin of 39.88% and a positive return on equity of 10.81%. Franco-Nevada’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FNV. Fortis Capital Advisors LLC bought a new stake in shares of Franco-Nevada during the first quarter worth approximately $391,000. Hudson Value Partners LLC acquired a new stake in Franco-Nevada during the 1st quarter worth $3,143,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Franco-Nevada by 116.2% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,628 shares of the basic materials company’s stock valued at $1,028,000 after purchasing an additional 4,637 shares during the period. Bleakley Financial Group LLC boosted its position in shares of Franco-Nevada by 6.5% in the 1st quarter. Bleakley Financial Group LLC now owns 2,017 shares of the basic materials company’s stock worth $240,000 after purchasing an additional 123 shares during the last quarter. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of Franco-Nevada during the first quarter worth $1,132,000. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be paid 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 of this dividend is Thursday, June 13th. Franco-Nevada’s dividend payout ratio is presently -57.83%.

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.