National Bank Financial Comments on Franco-Nevada Co.’s Q3 2024 Earnings (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Research analysts at National Bank Financial lifted their Q3 2024 EPS estimates for shares of Franco-Nevada in a note issued to investors on Wednesday, August 14th. National Bank Financial analyst S. Nagle now anticipates that the basic materials company will earn $0.93 per share for the quarter, up from their previous forecast of $0.88. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.27 per share. National Bank Financial also issued estimates for Franco-Nevada’s FY2026 earnings at $4.58 EPS.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The business had revenue of $260.10 million during the quarter, compared to the consensus estimate of $277.44 million. During the same period in the previous year, the business earned $0.95 earnings per share. The firm’s revenue for the quarter was down 21.2% compared to the same quarter last year.

Other analysts have also recently issued research reports about the stock. Scotiabank lifted their price target on shares of Franco-Nevada from $140.00 to $141.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. Bank of America boosted their price objective on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Jefferies Financial Group boosted their price objective on shares of Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a research report on Friday, July 12th. HC Wainwright reissued a “buy” rating and set a $185.00 price objective on shares of Franco-Nevada in a research report on Friday. Finally, StockNews.com downgraded shares of Franco-Nevada from a “hold” rating to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $152.63.

Franco-Nevada Stock Performance

FNV opened at $121.79 on Friday. The stock has a market capitalization of $23.44 billion, a PE ratio of -48.91, a price-to-earnings-growth ratio of 21.14 and a beta of 0.74. The stock’s 50 day moving average price is $122.06 and its 200-day moving average price is $118.79. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $146.43.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, September 12th. Franco-Nevada’s dividend payout ratio is presently -57.83%.

Institutional Trading of Franco-Nevada

A number of hedge funds and other institutional investors have recently modified their holdings of FNV. Scotia Capital Inc. boosted its stake in Franco-Nevada by 27.1% in the 4th quarter. Scotia Capital Inc. now owns 149,153 shares of the basic materials company’s stock worth $16,474,000 after purchasing an additional 31,796 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Franco-Nevada by 108.1% in the 4th quarter. Allianz Asset Management GmbH now owns 455,239 shares of the basic materials company’s stock worth $50,671,000 after purchasing an additional 236,503 shares in the last quarter. Alberta Investment Management Corp boosted its stake in Franco-Nevada by 2.3% in the 4th quarter. Alberta Investment Management Corp now owns 447,633 shares of the basic materials company’s stock worth $49,825,000 after purchasing an additional 10,250 shares in the last quarter. Bornite Capital Management LP bought a new position in Franco-Nevada in the 4th quarter worth about $8,167,000. Finally, Fielder Capital Group LLC bought a new position in Franco-Nevada in the 4th quarter worth about $906,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.