Franco-Nevada Co. to Post Q2 2024 Earnings of $0.84 Per Share, Raymond James Forecasts (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Equities researchers at Raymond James upped their Q2 2024 earnings per share estimates for Franco-Nevada in a note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings per share of $0.84 for the quarter, up from their prior forecast of $0.71. Raymond James has a “Outperform” rating and a $141.00 price objective 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.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group raised their price objective on Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research note on Monday. TheStreet cut Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Bank of America reduced their price objective on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Finally, Scotiabank raised their price objective on Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada presently has a consensus rating of “Hold” and a consensus price target of $148.60.

Franco-Nevada Stock Performance

NYSE FNV opened at $118.96 on Thursday. The stock’s 50-day simple moving average is $114.55 and its two-hundred day simple moving average is $115.81. Franco-Nevada has a twelve month low of $102.29 and a twelve month high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The business had revenue of $303.30 million for the quarter.

Institutional Trading of Franco-Nevada

Several large investors have recently modified their holdings of FNV. CWM LLC grew its stake in shares of Franco-Nevada by 77.8% in the third quarter. CWM LLC now owns 786 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 344 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in Franco-Nevada by 2.3% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 22,839 shares of the basic materials company’s stock valued at $3,049,000 after acquiring an additional 518 shares in the last quarter. Veritas Asset Management LLP boosted its position in Franco-Nevada by 0.9% during the 3rd quarter. Veritas Asset Management LLP now owns 104,118 shares of the basic materials company’s stock valued at $13,899,000 after acquiring an additional 956 shares in the last quarter. Bfsg LLC boosted its position in Franco-Nevada by 2.6% during the 3rd quarter. Bfsg LLC now owns 72,263 shares of the basic materials company’s stock valued at $9,646,000 after acquiring an additional 1,860 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in Franco-Nevada by 1.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 115,194 shares of the basic materials company’s stock valued at $15,377,000 after acquiring an additional 1,611 shares in the last quarter. 77.06% of the stock is 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 paid a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 1.21%. 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.