Raymond James Increases Earnings Estimates for Franco-Nevada

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Research analysts at Raymond James boosted their FY2024 earnings estimates for shares of Franco-Nevada in a report released on Monday, January 27th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings of $3.19 per share for the year, up from their prior estimate of $3.12. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.18 per share. Raymond James also issued estimates for Franco-Nevada’s Q4 2024 earnings at $0.87 EPS, Q1 2025 earnings at $0.96 EPS, Q2 2025 earnings at $0.91 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $1.01 EPS and FY2025 earnings at $3.85 EPS.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank cut their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. HC Wainwright reiterated a “buy” rating and set a $155.00 price objective on shares of Franco-Nevada in a research note on Tuesday. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, UBS Group assumed coverage on Franco-Nevada in a research report on Monday, November 18th. They issued a “buy” rating and a $160.00 price target for the company. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $145.33.

Franco-Nevada Price Performance

NYSE:FNV opened at $130.79 on Wednesday. The firm’s 50-day moving average price is $122.70 and its 200-day moving average price is $124.07. The company has a market capitalization of $25.17 billion, a PE ratio of -41.39, a P/E/G ratio of 7.08 and a beta of 0.72. Franco-Nevada has a 1-year low of $103.64 and a 1-year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). The firm had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FNV. Graham Capital Wealth Management LLC lifted its position in Franco-Nevada by 0.4% during the second quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company’s stock valued at $2,511,000 after purchasing an additional 86 shares in the last quarter. Mutual Advisors LLC raised its stake in shares of Franco-Nevada by 4.0% in the fourth quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after buying an additional 96 shares during the period. Sustainable Insight Capital Management LLC raised its stake in shares of Franco-Nevada by 2.7% in the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock worth $441,000 after buying an additional 100 shares during the period. Huntington National Bank lifted its position in shares of Franco-Nevada by 7.4% during the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after buying an additional 102 shares in the last quarter. Finally, Blossom Wealth Management grew its stake in shares of Franco-Nevada by 3.9% during the 4th quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock valued at $335,000 after acquiring an additional 108 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, December 5th. Franco-Nevada’s payout ratio is presently -45.57%.

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.