FY2024 EPS Forecast for Franco-Nevada Lowered by Analyst

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Stock analysts at National Bank Financial reduced their FY2024 earnings estimates for Franco-Nevada in a research note issued on Monday, February 10th. National Bank Financial analyst S. Nagle now forecasts that the basic materials company will earn $3.19 per share for the year, down from their previous estimate of $3.27. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.10 per share. National Bank Financial also issued estimates for Franco-Nevada’s Q4 2024 earnings at $0.89 EPS and FY2025 earnings at $4.57 EPS.

FNV has been the subject of a number of other reports. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and issued a $155.00 price target on shares of Franco-Nevada in a research note on Tuesday, January 28th. Royal Bank of Canada increased their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, UBS Group assumed coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price for the company. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.71.

Franco-Nevada Price Performance

NYSE FNV opened at $142.92 on Wednesday. The firm has a 50-day moving average price of $126.00 and a two-hundred day moving average price of $124.98. Franco-Nevada has a 12-month low of $103.64 and a 12-month high of $143.77.

Institutional Trading of Franco-Nevada

Hedge funds have recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC acquired a new position in shares of Franco-Nevada during the fourth quarter worth $47,000. Point72 DIFC Ltd acquired a new stake in shares of Franco-Nevada during the third quarter valued at about $52,000. Harbour Investments Inc. grew its holdings in shares of Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 93 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Franco-Nevada in the third quarter valued at approximately $55,000. Finally, SBI Securities Co. Ltd. bought a new position in Franco-Nevada in the 4th quarter valued at approximately $73,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.06%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio is currently -45.57%.

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.