Franco-Nevada (NYSE:FNV) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Franco-Nevada (NYSE:FNV) (TSE:FNV) posted its quarterly earnings results on Wednesday. The basic materials company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.08, Briefing.com reports. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The business had revenue of $256.80 million during the quarter, compared to analysts’ expectations of $250.50 million. During the same quarter in the prior year, the company posted $0.79 EPS. The business’s revenue for the quarter was down 7.1% on a year-over-year basis.

Franco-Nevada Stock Down 0.7 %

FNV stock traded down $0.85 during midday trading on Thursday, hitting $120.98. The company’s stock had a trading volume of 779,189 shares, compared to its average volume of 732,652. Franco-Nevada has a 52-week low of $102.29 and a 52-week high of $161.25. The firm has a market capitalization of $23.27 billion, a P/E ratio of -49.76, a PEG ratio of 6.14 and a beta of 0.72. The firm has a 50-day simple moving average of $116.13 and a 200-day simple moving average of $115.34.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FNV. Scotiabank increased their price target 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. Jefferies Financial Group increased their price target on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. TheStreet cut shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Bank of America lowered their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Finally, Raymond James increased their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Franco-Nevada presently has an average rating of “Hold” and an average target price of $148.60.

About Franco-Nevada

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.