HC Wainwright Increases Earnings Estimates for Franco-Nevada

Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) – Equities researchers at HC Wainwright raised their FY2024 earnings estimates for shares of Franco-Nevada in a research note issued to investors on Friday, December 20th. HC Wainwright analyst H. Ihle now anticipates that the basic materials company will post earnings per share of $2.81 for the year, up from their prior estimate of $2.78. HC Wainwright currently has a “Buy” rating and a $155.00 target price on the stock. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.22 per share. HC Wainwright also issued estimates for Franco-Nevada’s FY2025 earnings at $3.68 EPS.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. During the same period in the previous year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was down 10.9% on a year-over-year basis.

Several other equities analysts have also commented on FNV. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Scotiabank decreased their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Jefferies Financial Group dropped their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and an average target price of $145.33.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $118.77 on Monday. Franco-Nevada has a one year low of $103.64 and a one year high of $137.60. The stock has a market cap of $22.86 billion, a PE ratio of -37.59 and a beta of 0.72. The stock has a 50-day moving average of $124.37 and a two-hundred day moving average of $123.28.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.21%. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Institutional Investors Weigh In On Franco-Nevada

Institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in Franco-Nevada by 31.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 15,043 shares of the basic materials company’s stock valued at $1,783,000 after purchasing an additional 3,626 shares in the last quarter. Meixler Investment Management Ltd. lifted its stake in shares of Franco-Nevada by 0.5% in the second quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock worth $2,543,000 after buying an additional 101 shares in the last quarter. Ridgewood Investments LLC acquired a new position in Franco-Nevada during the second quarter worth about $68,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Franco-Nevada by 3.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,813 shares of the basic materials company’s stock valued at $9,816,000 after acquiring an additional 2,751 shares in the last quarter. Finally, Tobam raised its holdings in Franco-Nevada by 128.9% in the 2nd quarter. Tobam now owns 8,052 shares of the basic materials company’s stock valued at $954,000 after acquiring an additional 4,535 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.