Raymond James Weighs in on Franco-Nevada Co.’s FY2024 Earnings (NYSE:FNV)

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Investment analysts at Raymond James boosted their FY2024 earnings estimates for shares of Franco-Nevada in a report released on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $3.14 per share for the year, up from their previous forecast of $2.75. 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.

FNV has been the topic of several other reports. TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Bank of America lowered their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Scotiabank increased their price target on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a report on Thursday, April 18th. Finally, Jefferies Financial Group increased their price target on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $148.60.

Franco-Nevada Trading Up 2.2 %

NYSE FNV opened at $121.61 on Friday. Franco-Nevada has a 1 year low of $102.29 and a 1 year high of $161.25. The company has a fifty day moving average price of $114.80 and a 200-day moving average price of $115.83.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Aubrey Capital Management Ltd bought a new position in Franco-Nevada during the first quarter valued at approximately $871,000. Beddow Capital Management Inc. grew its holdings in shares of Franco-Nevada by 0.5% in the first quarter. Beddow Capital Management Inc. now owns 56,899 shares of the basic materials company’s stock worth $6,780,000 after purchasing an additional 260 shares during the last quarter. Simplicity Wealth LLC bought a new position in shares of Franco-Nevada in the first quarter worth approximately $240,000. Assenagon Asset Management S.A. grew its holdings in shares of Franco-Nevada by 6.0% in the first quarter. Assenagon Asset Management S.A. now owns 7,003 shares of the basic materials company’s stock worth $835,000 after purchasing an additional 396 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Franco-Nevada by 2,569.8% in the first quarter. Fifth Third Bancorp now owns 1,148 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 1,105 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Increases Dividend

The business 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. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Wednesday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is currently -55.97%.

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.