Franco-Nevada (NYSE:FNV) Announces Earnings Results

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

Franco-Nevada Stock Performance

NYSE:FNV traded down $7.38 during mid-day trading on Wednesday, reaching $248.41. 747,939 shares of the company’s stock were exchanged, compared to its average volume of 818,311. Franco-Nevada has a one year low of $188.47 and a one year high of $285.67. The business’s fifty day simple moving average is $248.62 and its two-hundred day simple moving average is $240.11. The firm has a market capitalization of $47.92 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 3.06 and a beta of 0.34.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Scotiabank reduced their target price on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Zacks Research upgraded Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Royal Bank Of Canada upped their target price on Franco-Nevada from $285.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Finally, Weiss Ratings upgraded Franco-Nevada from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average 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.