Franco-Nevada (NYSE:FNV) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Franco-Nevada (NYSE:FNV) (TSE:FNV) issued its quarterly earnings data on Wednesday. The basic materials company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.12, Zacks reports. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 EPS.

Franco-Nevada Stock Performance

Shares of NYSE FNV traded down $7.38 during trading on Wednesday, reaching $248.41. The company had a trading volume of 758,076 shares, compared to its average volume of 818,413. Franco-Nevada has a 52 week low of $188.47 and a 52 week high of $285.67. The stock has a market cap of $47.92 billion, a PE ratio of 32.47, a PEG ratio of 3.06 and a beta of 0.34. The business’s 50 day moving average price is $248.62 and its 200-day moving average price is $240.11.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FNV shares. Royal Bank Of Canada boosted their price objective on Franco-Nevada from $285.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Scotiabank cut their target price on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Zacks Research upgraded shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings upgraded Franco-Nevada from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and an average target price of $275.30.

About Franco-Nevada

Franco-Nevada is a Toronto-based company that provides financing to mining and energy businesses in exchange for royalties, streams and other interests in production. Rather than operating mines itself, it gives partners capital and receives a share of revenue or future output from their projects. The company’s portfolio is focused on gold and other precious metals, and also includes interests in other minerals and energy assets, including oil and gas. Its projects and counterparties span multiple regions, including North and South America, Africa, Australia and Europe.