Franco-Nevada (NYSE:FNV) Announces Quarterly Earnings Results

Franco-Nevada (NYSE:FNV) (TSE:FNV) posted its quarterly earnings data on Wednesday. The basic materials company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.12, Zacks reports. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The firm had revenue of $549.30 million for the quarter, compared to the consensus estimate of $568.44 million. During the same period in the previous year, the firm earned $1.43 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year.

Franco-Nevada Stock Performance

FNV opened at $248.41 on Thursday. Franco-Nevada has a fifty-two week low of $188.47 and a fifty-two week high of $285.67. The firm has a 50-day moving average of $248.48 and a 200 day moving average of $240.07. The firm has a market cap of $47.92 billion, a P/E ratio of 32.47, a PEG ratio of 2.97 and a beta of 0.34.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, December 3rd. This represents a $1.76 annualized dividend and a yield of 0.7%. Franco-Nevada’s dividend payout ratio is presently 23.01%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. 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 report on Wednesday, September 16th. Weiss Ratings upgraded shares of Franco-Nevada from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $305.00 price objective on shares of Franco-Nevada in a research report on Thursday. Finally, Zacks Research raised shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.30.

Franco-Nevada Company Profile

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.