Raymond James Comments on Franco-Nevada Co.’s FY2024 Earnings (TSE:FNV)

Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) – Analysts at Raymond James increased their FY2024 earnings estimates for shares of Franco-Nevada in a research report issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the company will earn $4.30 per share for the year, up from their previous estimate of $3.77. Raymond James has a “Outperform” rating and a $138.00 price target on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $4.28 per share.

Several other equities analysts have also recently issued reports on the stock. Veritas Investment Research upped their target price on shares of Franco-Nevada from C$149.00 to C$173.00 in a research note on Friday, April 12th. Stifel Nicolaus upped their target price on shares of Franco-Nevada from C$182.00 to C$196.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Eight Capital upped their target price on shares of Franco-Nevada from C$190.00 to C$200.00 and gave the company a “buy” rating in a research note on Monday. Canaccord Genuity Group upped their target price on shares of Franco-Nevada from C$168.00 to C$177.00 in a research note on Tuesday. Finally, National Bankshares lowered their target price on shares of Franco-Nevada from C$172.50 to C$170.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and an average target price of C$187.50.

Franco-Nevada Price Performance

FNV opened at C$166.12 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 23.26 and a current ratio of 41.21. The stock has a market capitalization of C$31.92 billion, a P/E ratio of -49.89, a P/E/G ratio of 5.00 and a beta of 0.63. The company’s 50-day simple moving average is C$156.27 and its two-hundred day simple moving average is C$157.14. Franco-Nevada has a 52-week low of C$139.19 and a 52-week high of C$217.70.

Franco-Nevada (TSE:FNV) (NYSE:FNV) last announced its quarterly earnings data on Tuesday, March 5th. The company reported C$1.23 EPS for the quarter, beating the consensus estimate of C$1.07 by C$0.16. Franco-Nevada had a negative net margin of 38.33% and a negative return on equity of 7.65%. The company had revenue of C$412.95 million for the quarter.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.477 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.91 dividend on an annualized basis and a yield of 1.15%. Franco-Nevada’s dividend payout ratio (DPR) is presently -58.86%.

Insiders Place Their Bets

In other Franco-Nevada news, Senior Officer Eaun Harrison Gray sold 330 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$156.69, for a total transaction of C$51,707.70. In other Franco-Nevada news, Senior Officer Eaun Harrison Gray sold 330 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$156.69, for a total transaction of C$51,707.70. Also, Senior Officer Sandip Rana sold 10,749 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$160.29, for a total transaction of C$1,722,952.91. In the last 90 days, insiders have sold 16,839 shares of company stock worth $2,686,396. Company insiders own 0.69% of the company’s stock.

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.