Franco-Nevada (NYSE:FNV) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Franco-Nevada (NYSE:FNV) (TSE:FNV) issued its earnings results on Wednesday. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03), Briefing.com reports. The firm had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.63%. The firm’s revenue was down 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS.

Franco-Nevada Trading Down 3.1 %

FNV stock traded down $3.97 during trading on Friday, hitting $122.44. The stock had a trading volume of 877,398 shares, compared to its average volume of 630,356. Franco-Nevada has a 1-year low of $102.29 and a 1-year high of $137.60. The company’s 50 day moving average price is $126.66 and its two-hundred day moving average price is $124.13.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. Franco-Nevada’s dividend payout ratio is currently -45.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FNV shares. HC Wainwright lifted their price objective on Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, Scotiabank decreased their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.57.

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.