Franco-Nevada FY2024 EPS Reduced by National Bank Financial

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Research analysts at National Bank Financial cut their FY2024 EPS estimates for Franco-Nevada in a note issued to investors on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now anticipates that the basic materials company will earn $3.36 per share for the year, down from their prior forecast of $3.44. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.26 per share.

Several other equities analysts have also recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Scotiabank boosted their price target on Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price target for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $152.75.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $135.82 on Thursday. The business has a 50-day simple moving average of $124.63 and a two-hundred day simple moving average of $123.18. Franco-Nevada has a fifty-two week low of $102.29 and a fifty-two week high of $139.93. The firm has a market cap of $26.14 billion, a price-to-earnings ratio of -54.55, a price-to-earnings-growth ratio of 20.13 and a beta of 0.76.

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

Institutional Trading of Franco-Nevada

Institutional investors and hedge funds have recently made changes to their positions in the business. Mediolanum International Funds Ltd purchased a new position in Franco-Nevada in the 1st quarter worth approximately $8,340,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Franco-Nevada by 116.2% in the first 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. Inspire Advisors LLC acquired a new position in Franco-Nevada during the 1st quarter worth about $495,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Franco-Nevada by 3,404.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock worth $86,287,000 after purchasing an additional 706,919 shares in the last quarter. Finally, Avantax Advisory Services Inc. purchased a new position in shares of Franco-Nevada in the first quarter valued at approximately $1,132,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a $0.36 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a yield of 1.06%. Franco-Nevada’s payout ratio is -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.