Franco-Nevada Co. Expected to Post Q2 2024 Earnings of $0.86 Per Share (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Equities researchers at National Bank Financial issued their Q2 2024 earnings per share (EPS) estimates for Franco-Nevada in a report released on Thursday, May 2nd. National Bank Financial analyst S. Nagle anticipates that the basic materials company will earn $0.86 per share for the quarter. The consensus estimate for Franco-Nevada’s current full-year earnings is $2.97 per share. National Bank Financial also issued estimates for Franco-Nevada’s Q3 2024 earnings at $0.88 EPS.

A number of other research firms have also issued reports on FNV. Raymond James boosted their target price on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. TheStreet cut shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Scotiabank boosted their price target on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 18th. Jefferies Financial Group raised their price objective on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Finally, Bank of America dropped their target price on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Franco-Nevada currently has an average rating of “Hold” and an average price target of $148.60.

Franco-Nevada Stock Up 1.9 %

Shares of FNV stock opened at $123.25 on Monday. The stock’s 50-day moving average price is $116.74 and its 200 day moving average price is $114.92. The stock has a market capitalization of $23.70 billion, a PE ratio of -49.50, a price-to-earnings-growth ratio of 6.29 and a beta of 0.72. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The company had revenue of $256.80 million for the quarter, compared to the consensus estimate of $250.50 million. During the same period last year, the firm posted $0.79 EPS. Franco-Nevada’s revenue for the quarter was down 7.1% on a year-over-year basis.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. Franco-Nevada’s payout ratio is -54.62%.

Institutional Investors Weigh In On Franco-Nevada

A number of large investors have recently added to or reduced their stakes in the business. VisionPoint Advisory Group LLC acquired a new stake in shares of Franco-Nevada during the third quarter valued at $30,000. Castleview Partners LLC acquired a new stake in shares of Franco-Nevada during the 3rd quarter worth about $33,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Franco-Nevada during the fourth quarter worth about $34,000. Allworth Financial LP raised its position in shares of Franco-Nevada by 5,750.0% in the fourth quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after buying an additional 345 shares during the last quarter. Finally, Fortis Group Advisors LLC lifted its stake in shares of Franco-Nevada by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after buying an additional 176 shares during the period. 77.06% of the stock is 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.