HC Wainwright Forecasts Increased Earnings for Franco-Nevada

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Equities research analysts at HC Wainwright increased their FY2024 earnings per share estimates for shares of Franco-Nevada in a research report issued to clients and investors on Thursday, November 7th. HC Wainwright analyst H. Ihle now forecasts that the basic materials company will earn $2.78 per share for the year, up from their prior estimate of $2.59. HC Wainwright has a “Buy” rating and a $200.00 price objective on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.25 per share. HC Wainwright also issued estimates for Franco-Nevada’s FY2025 earnings at $3.58 EPS.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.63%. The firm had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. During the same period in the prior year, the business posted $0.91 EPS. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year.

A number of other research analysts also recently weighed in 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. Jefferies Financial Group decreased their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.57.

Franco-Nevada Stock Down 3.8 %

NYSE FNV opened at $117.83 on Monday. The firm’s 50 day moving average is $126.57 and its 200-day moving average is $124.18. The company has a market capitalization of $22.68 billion, a PE ratio of -37.29, a price-to-earnings-growth ratio of 20.59 and a beta of 0.75. Franco-Nevada has a 12-month low of $102.29 and a 12-month high of $137.60.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is currently -45.57%.

Institutional Investors Weigh In On Franco-Nevada

Large investors have recently bought and sold shares of the company. Mechanics Financial Corp boosted its position in shares of Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Franco-Nevada during the 2nd quarter worth $33,000. Kings Path Partners LLC acquired a new position in shares of Franco-Nevada during the 2nd quarter worth $36,000. Sunbelt Securities Inc. boosted its stake in Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after buying an additional 400 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its position in Franco-Nevada by 33.3% in the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 110 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.