FY2024 EPS Estimates for Franco-Nevada Cut by Analyst

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Equities researchers at National Bank Financial dropped their FY2024 earnings estimates for shares of Franco-Nevada in a note issued to investors on Monday, February 10th. National Bank Financial analyst S. Nagle now expects that the basic materials company will post earnings per share of $3.19 for the year, down from their previous forecast of $3.27. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.10 per share. National Bank Financial also issued estimates for Franco-Nevada’s Q4 2024 earnings at $0.89 EPS and FY2025 earnings at $4.57 EPS.

FNV has been the subject of a number of other research reports. HC Wainwright restated a “buy” rating and issued a $155.00 price objective on shares of Franco-Nevada in a research report on Tuesday, January 28th. Royal Bank of Canada increased their price target on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday. Jefferies Financial Group cut their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $146.71.

Franco-Nevada Trading Down 0.2 %

FNV opened at $142.92 on Wednesday. The firm’s fifty day moving average is $126.00 and its two-hundred day moving average is $124.98. Franco-Nevada has a twelve month low of $103.64 and a twelve month high of $143.77.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is currently -45.57%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FNV. Laurel Wealth Advisors LLC bought a new stake in shares of Franco-Nevada in the 4th quarter valued at about $47,000. Point72 DIFC Ltd acquired a new position in shares of Franco-Nevada during the 3rd quarter worth approximately $52,000. Harbour Investments Inc. increased its holdings in shares of Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 93 shares during the last quarter. Erste Asset Management GmbH bought a new stake in Franco-Nevada in the 3rd quarter valued at $55,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Franco-Nevada during the 4th quarter valued at $73,000. 77.06% of the stock is owned by institutional investors and hedge funds.

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.