National Bank Financial Weighs in on Franco-Nevada Co.’s Q2 2024 Earnings (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – National Bank Financial issued their Q2 2024 earnings estimates for shares of Franco-Nevada in a report released on Thursday, May 2nd. National Bank Financial analyst S. Nagle anticipates that the basic materials company will post earnings of $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.

Several other analysts have also recently commented on FNV. Bank of America lowered 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 note on Monday, March 18th. Raymond James boosted their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. HC Wainwright boosted their price objective on shares of Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Monday. TheStreet cut shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $148.60.

Franco-Nevada Stock Performance

FNV stock opened at $126.05 on Monday. The stock has a market capitalization of $24.24 billion, a P/E ratio of -50.62, a PEG ratio of 6.29 and a beta of 0.72. Franco-Nevada has a one year low of $102.29 and a one year high of $161.25. The company has a 50 day moving average price of $117.54 and a two-hundred day moving average price of $114.74.

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

Hedge Funds Weigh In On Franco-Nevada

Institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its holdings in Franco-Nevada by 15.6% in the 4th quarter. Mackenzie Financial Corp now owns 1,472,264 shares of the basic materials company’s stock worth $163,156,000 after buying an additional 198,144 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Franco-Nevada by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,104,384 shares of the basic materials company’s stock worth $948,364,000 after buying an additional 112,274 shares in the last quarter. Beddow Capital Management Inc. lifted its holdings in Franco-Nevada by 3.8% in the 4th quarter. Beddow Capital Management Inc. now owns 56,639 shares of the basic materials company’s stock worth $6,276,000 after buying an additional 2,059 shares in the last quarter. Invesco Ltd. lifted its holdings in Franco-Nevada by 11.9% in the 3rd quarter. Invesco Ltd. now owns 491,631 shares of the basic materials company’s stock worth $65,628,000 after buying an additional 52,401 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in Franco-Nevada by 0.4% in the 3rd quarter. TD Asset Management Inc now owns 2,232,515 shares of the basic materials company’s stock worth $299,425,000 after buying an additional 9,482 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.14%. Franco-Nevada’s payout ratio is -57.83%.

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.