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

Franco-Nevada (NYSE:FNV) (TSE:FNV) released its earnings results 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 traded down $7.38 during trading on Wednesday, reaching $248.41. 747,939 shares of the company’s stock were exchanged, compared to its average volume of 818,311. The firm has a fifty day moving average price of $248.62 and a two-hundred day moving average price of $240.11. Franco-Nevada has a one year low of $188.47 and a one year high of $285.67. The stock 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.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FNV. Zacks Research raised Franco-Nevada from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Scotiabank decreased their target price on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Royal Bank Of Canada boosted 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. Finally, Weiss Ratings raised shares of Franco-Nevada from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus 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.