Franco-Nevada Corporation (FNV) Issues Quarterly Earnings Results

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) released its earnings results on Tuesday. The basic materials company reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25, Briefing.com reports. Franco-Nevada Corporation had a return on equity of 4.35% and a net margin of 21.17%. The firm had revenue of $163.60 million during the quarter, compared to analysts’ expectations of $164.62 million. During the same period in the prior year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis.

Shares of Franco-Nevada Corporation (NYSE:FNV) traded up 4.66% on Wednesday, reaching $76.09. The company had a trading volume of 375,339 shares. The company has a market capitalization of $13.75 billion, a PE ratio of 99.99 and a beta of -0.03. The company’s 50-day moving average is $72.39 and its 200-day moving average is $68.77. Franco-Nevada Corporation has a one year low of $53.31 and a one year high of $81.16.

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Several research firms have weighed in on FNV. Credit Suisse Group set a $80.00 target price on Franco-Nevada Corporation and gave the stock a “buy” rating in a research note on Wednesday, June 14th. ValuEngine upgraded Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded Franco-Nevada Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Scotiabank upped their target price on Franco-Nevada Corporation from $45.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 11th. Finally, Deutsche Bank AG restated a “hold” rating and set a $64.00 target price (down from $65.00) on shares of Franco-Nevada Corporation in a research note on Sunday, June 25th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Franco-Nevada Corporation currently has an average rating of “Buy” and a consensus price target of $75.35.

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Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can increased its stake in Franco-Nevada Corporation by 15.7% in the first quarter. Bank of Montreal Can now owns 6,857,037 shares of the basic materials company’s stock valued at $449,204,000 after buying an additional 931,206 shares in the last quarter. Van ECK Associates Corp increased its stake in Franco-Nevada Corporation by 6.6% in the first quarter. Van ECK Associates Corp now owns 10,773,637 shares of the basic materials company’s stock valued at $705,781,000 after buying an additional 666,196 shares in the last quarter. CIBC Asset Management Inc increased its stake in Franco-Nevada Corporation by 34.8% in the second quarter. CIBC Asset Management Inc now owns 1,966,527 shares of the basic materials company’s stock valued at $141,730,000 after buying an additional 507,518 shares in the last quarter. Barometer Capital Management Inc. increased its stake in Franco-Nevada Corporation by 4,017.1% in the second quarter. Barometer Capital Management Inc. now owns 288,200 shares of the basic materials company’s stock valued at $20,797,000 after buying an additional 281,200 shares in the last quarter. Finally, TD Asset Management Inc. increased its stake in Franco-Nevada Corporation by 6.0% in the second quarter. TD Asset Management Inc. now owns 3,432,041 shares of the basic materials company’s stock valued at $247,287,000 after buying an additional 194,998 shares in the last quarter. 63.49% of the stock is owned by institutional investors and hedge funds.

About Franco-Nevada Corporation

Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.

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