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 Franco-Nevada in a research note issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings per share of $3.14 for the year, up from their prior estimate of $2.75. Raymond James has a “Outperform” rating and a $141.00 price target on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $2.90 per share.

A number of other analysts also recently issued reports on FNV. TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Bank of America cut their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a report on Monday, March 18th. Jefferies Financial Group upped their price objective on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Scotiabank increased their price objective on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $148.60.

Franco-Nevada Stock Up 2.2 %

Shares of FNV stock opened at $121.61 on Friday. The company has a 50-day simple moving average of $114.80 and a 200 day simple moving average of $115.83. Franco-Nevada has a 52 week low of $102.29 and a 52 week high of $161.25.

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

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.36 per share. 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 dividend yield of 1.18%. The ex-dividend date of this dividend was Wednesday, March 13th. Franco-Nevada’s dividend payout ratio is currently -55.97%.

Institutional Trading of Franco-Nevada

Hedge funds and other institutional investors have recently bought and sold shares of the business. VisionPoint Advisory Group LLC acquired a new stake in Franco-Nevada in the third quarter worth about $30,000. Castleview Partners LLC purchased a new position in Franco-Nevada in the 3rd quarter valued at $33,000. Creative Financial Designs Inc. ADV purchased a new position in Franco-Nevada in the 4th quarter valued at $34,000. FinTrust Capital Advisors LLC lifted its holdings in Franco-Nevada by 209.0% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 309 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 209 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Franco-Nevada by 5,750.0% in the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 77.06% 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.