Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV - Research analysts at Raymond James boosted their FY2024 earnings estimates for shares of Franco-Nevada in a note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings of $3.14 per share for the year, up from their previous estimate of $2.75. Raymond James currently has a "Outperform" rating and a $141.00 target price on the stock. The consensus estimate for Franco-Nevada's current full-year earnings is $2.90 per share.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping 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 business had revenue of $303.30 million for the quarter.
Other equities research analysts also recently issued research reports about the stock. TheStreet downgraded shares of Franco-Nevada from a "c+" rating to a "d+" rating in a research note on Tuesday, March 5th. Jefferies Financial Group boosted their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a "hold" rating in a research note on Monday. Scotiabank boosted their target price on shares of Franco-Nevada from $139.00 to $140.00 and gave the company a "sector perform" rating in a research note on Thursday, April 18th. Finally, Bank of America dropped their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a "buy" rating on the stock in a research report on Monday, March 18th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $148.60.
Read Our Latest Analysis on FNV
Franco-Nevada Stock Up 1.1 %
Shares of FNV traded up $1.37 during mid-day trading on Friday, reaching $122.93. 476,318 shares of the company's stock were exchanged, compared to its average volume of 734,570. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $161.25. The company has a 50-day simple moving average of $115.03 and a two-hundred day simple moving average of $115.87. The company has a market cap of $23.64 billion, a price-to-earnings ratio of -50.59, a PEG ratio of 6.21 and a beta of 0.71.
Hedge Funds Weigh In On Franco-Nevada
Several large investors have recently bought and sold shares of FNV. FMR LLC raised its stake in shares of Franco-Nevada by 1.3% in the 3rd quarter. FMR LLC now owns 16,565,648 shares of the basic materials company's stock valued at $2,211,558,000 after buying an additional 208,392 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Franco-Nevada by 5.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,008,095 shares of the basic materials company's stock worth $1,219,807,000 after acquiring an additional 566,539 shares during the last quarter. FIL Ltd boosted its stake in shares of Franco-Nevada by 7.8% in the 4th quarter. FIL Ltd now owns 9,079,951 shares of the basic materials company's stock valued at $1,005,852,000 after purchasing an additional 659,324 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Franco-Nevada by 9.9% in the 4th quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company's stock valued at $972,707,000 after purchasing an additional 789,070 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Franco-Nevada by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 7,244,210 shares of the basic materials company's stock valued at $802,731,000 after purchasing an additional 139,826 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.
Franco-Nevada Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.36 per share. This is a boost from Franco-Nevada's previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Wednesday, March 13th. Franco-Nevada's dividend payout ratio is presently -55.97%.
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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