Stifel Canada Weighs in on Franco-Nevada Q3 Earnings

by · The Markets Daily

Franco-Nevada Co. (NYSE:FNV – Free Report) (TSE:FNV) – Stifel Canada issued their Q3 2024 earnings per share estimates for Franco-Nevada in a report released on Monday, October 21st. Stifel Canada analyst I. Rico forecasts that the basic materials company will post earnings per share of $0.85 for the quarter. The consensus estimate for Franco-Nevada’s current full-year earnings is $3.26 per share. Stifel Canada also issued estimates for Franco-Nevada’s FY2024 earnings at $3.46 EPS.

Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last issued its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The business had revenue of $260.10 million during the quarter, compared to the consensus estimate of $277.44 million. During the same quarter last year, the business earned $0.95 EPS. The firm’s quarterly revenue was down 21.2% compared to the same quarter last year.

A number of other research analysts also recently issued reports on FNV. HC Wainwright reissued a “buy” rating and issued a $185.00 price objective on shares of Franco-Nevada in a research note on Friday, August 16th. Jefferies Financial Group decreased their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Scotiabank raised their target price on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. Finally, Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.75.

Read Our Latest Report on FNV

Franco-Nevada Trading Up 2.4 %

Shares of FNV opened at $135.95 on Wednesday. The company has a market capitalization of $26.16 billion, a PE ratio of -54.60, a PEG ratio of 20.13 and a beta of 0.76. The stock’s 50-day moving average price is $123.93 and its two-hundred day moving average price is $122.99. Franco-Nevada has a 12 month low of $102.29 and a 12 month high of $140.38.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.44 annualized dividend and a dividend yield of 1.06%. Franco-Nevada’s payout ratio is -57.83%.

Institutional Investors Weigh In On Franco-Nevada

A number of institutional investors and hedge funds have recently bought and sold shares of FNV. Wellington Management Group LLP grew its stake in shares of Franco-Nevada by 34.1% in the 4th quarter. Wellington Management Group LLP now owns 184,457 shares of the basic materials company’s stock worth $20,531,000 after acquiring an additional 46,876 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of Franco-Nevada during the 1st quarter worth approximately $3,635,000. St. Johns Investment Management Company LLC purchased a new position in shares of Franco-Nevada in the 1st quarter worth approximately $167,000. Capital Asset Advisory Services LLC grew its holdings in shares of Franco-Nevada by 9.4% in the first quarter. Capital Asset Advisory Services LLC now owns 32,166 shares of the basic materials company’s stock valued at $3,934,000 after acquiring an additional 2,758 shares in the last quarter. Finally, Tempus Wealth Planning LLC purchased a new stake in shares of Franco-Nevada during the first quarter valued at approximately $472,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Company Profile

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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.

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