Brokers Set Expectations for Franco-Nevada Co.’s Q2 2024 Earnings (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Raymond James lifted their Q2 2024 earnings estimates for Franco-Nevada in a research report issued to clients and investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the basic materials company will earn $0.84 per share for the quarter, up from their previous forecast of $0.71. Raymond James has a “Outperform” rating and a $141.00 price target on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $2.90 per share. Raymond James also issued estimates for Franco-Nevada’s Q3 2024 earnings at $0.81 EPS and Q4 2024 earnings at $0.81 EPS.

Several other research firms have also recently commented on FNV. Scotiabank upped their target price on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 18th. Bank of America decreased their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Jefferies Financial Group upped their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Finally, TheStreet cut shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada presently has a consensus rating of “Hold” and an average target price of $148.60.

Franco-Nevada Trading Up 1.1 %

NYSE FNV opened at $122.93 on Thursday. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $161.25. The stock has a market cap of $23.64 billion, a price-to-earnings ratio of -50.59, a price-to-earnings-growth ratio of 6.21 and a beta of 0.71. The company has a 50-day moving average price of $115.03 and a two-hundred day moving average price of $115.87.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The firm had revenue of $303.30 million during the quarter.

Institutional Trading of Franco-Nevada

A number of large investors have recently added to or reduced their stakes in the business. Fortune Financial Advisors LLC boosted its holdings in Franco-Nevada by 1.8% during the third quarter. Fortune Financial Advisors LLC now owns 4,483 shares of the basic materials company’s stock worth $598,000 after buying an additional 81 shares in the last quarter. Wahed Invest LLC lifted its position in shares of Franco-Nevada by 7.7% in the 3rd quarter. Wahed Invest LLC now owns 1,377 shares of the basic materials company’s stock valued at $185,000 after acquiring an additional 99 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC lifted its position in Franco-Nevada by 6.2% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 1,770 shares of the basic materials company’s stock worth $236,000 after buying an additional 104 shares in the last quarter. Capital Asset Advisory Services LLC lifted its position in Franco-Nevada by 0.4% in the 4th quarter. Capital Asset Advisory Services LLC now owns 29,408 shares of the basic materials company’s stock worth $3,259,000 after buying an additional 109 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in Franco-Nevada by 0.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 29,408 shares of the basic materials company’s stock worth $3,259,000 after buying an additional 109 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date was Wednesday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently -55.97%.

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.