Q3 2024 Earnings Forecast for Franco-Nevada Co. Issued By Raymond James (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Investment analysts at Raymond James raised their Q3 2024 EPS estimates for Franco-Nevada in a report issued on Monday, September 23rd. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings per share of $0.89 for the quarter, up from their prior estimate of $0.84. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.23 per share. Raymond James also issued estimates for Franco-Nevada’s Q4 2024 earnings at $0.91 EPS, FY2024 earnings at $3.31 EPS, Q1 2025 earnings at $0.85 EPS, Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $1.00 EPS and FY2025 earnings at $3.71 EPS.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The business had revenue of $260.10 million for the quarter, compared to the consensus estimate of $277.44 million. During the same quarter in the previous year, the company earned $0.95 earnings per share. The firm’s revenue was down 21.2% on a year-over-year basis.

Several other analysts have also commented on FNV. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Scotiabank raised their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. Jefferies Financial Group lifted their price target on shares of Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Bank of America increased their price objective on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, HC Wainwright restated a “buy” rating and set a $185.00 target price on shares of Franco-Nevada in a research note on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.75.

Franco-Nevada Stock Down 0.9 %

Shares of NYSE:FNV opened at $128.78 on Thursday. The company has a market capitalization of $24.78 billion, a price-to-earnings ratio of -51.72, a price-to-earnings-growth ratio of 21.28 and a beta of 0.76. The firm has a 50 day moving average of $123.52 and a 200 day moving average of $121.89. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $142.60.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Thursday, September 12th. Franco-Nevada’s payout ratio is presently -57.83%.

Institutional Trading of Franco-Nevada

A number of hedge funds have recently added to or reduced their stakes in the company. Scotia Capital Inc. grew its position in shares of Franco-Nevada by 27.1% during the 4th quarter. Scotia Capital Inc. now owns 149,153 shares of the basic materials company’s stock valued at $16,474,000 after acquiring an additional 31,796 shares during the period. Allianz Asset Management GmbH increased its position in shares of Franco-Nevada by 108.1% in the fourth quarter. Allianz Asset Management GmbH now owns 455,239 shares of the basic materials company’s stock valued at $50,671,000 after buying an additional 236,503 shares in the last quarter. Alberta Investment Management Corp increased its position in shares of Franco-Nevada by 2.3% in the fourth quarter. Alberta Investment Management Corp now owns 447,633 shares of the basic materials company’s stock valued at $49,825,000 after buying an additional 10,250 shares in the last quarter. Bornite Capital Management LP acquired a new position in shares of Franco-Nevada during the 4th quarter worth approximately $8,167,000. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Franco-Nevada during the 1st quarter valued at approximately $8,340,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.