Franco-Nevada (NYSE:FNV) Announces Earnings Results, Beats Expectations By $0.28 EPS

Franco-Nevada (NYSE:FNV) (TSE:FNV) posted its quarterly earnings data on Wednesday. The basic materials company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.28, Zacks reports. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.

Franco-Nevada Trading Down 2.9%

FNV stock traded down $7.38 during midday trading on Wednesday, hitting $248.41. The stock had a trading volume of 757,687 shares, compared to its average volume of 818,413. The firm has a market cap of $47.92 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 3.06 and a beta of 0.34. Franco-Nevada has a 1-year low of $188.47 and a 1-year high of $285.67. The business has a fifty day moving average price of $248.62 and a two-hundred day moving average price of $240.11.

Analysts Set New Price Targets

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