Franco Nevada (NYSE:FNV) (TSE:FNV) issued its earnings results on Monday. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03, Briefing.com reports. Franco Nevada had a return on equity of 4.80% and a net margin of 32.94%. The business had revenue of $170.60 million during the quarter, compared to analysts’ expectations of $158.85 million. During the same period in the prior year, the firm posted $0.30 EPS. Franco Nevada’s quarterly revenue was down .5% compared to the same quarter last year.
FNV stock traded up $0.74 during midday trading on Tuesday, reaching $65.18. 62,331 shares of the company’s stock traded hands, compared to its average volume of 796,574. Franco Nevada has a 1-year low of $58.26 and a 1-year high of $86.06. The stock has a market capitalization of $12.15 billion, a price-to-earnings ratio of 60.28, a P/E/G ratio of 14.15 and a beta of -0.13.
A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its holdings in Franco Nevada by 128.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,600 shares of the basic materials company’s stock valued at $109,000 after purchasing an additional 900 shares in the last quarter. Wells Fargo & Company MN boosted its position in Franco Nevada by 6.8% in the 1st quarter. Wells Fargo & Company MN now owns 14,654 shares of the basic materials company’s stock valued at $1,002,000 after buying an additional 939 shares during the last quarter. BlackRock Inc. boosted its position in Franco Nevada by 1.1% in the 1st quarter. BlackRock Inc. now owns 117,074 shares of the basic materials company’s stock valued at $8,007,000 after buying an additional 1,282 shares during the last quarter. Tuttle Tactical Management bought a new position in Franco Nevada in the 2nd quarter valued at $111,000. Finally, Marathon Asset Management LLP boosted its position in Franco Nevada by 0.5% in the 3rd quarter. Marathon Asset Management LLP now owns 282,315 shares of the basic materials company’s stock valued at $17,650,000 after buying an additional 1,532 shares during the last quarter. 63.42% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on FNV shares. Barclays started coverage on Franco Nevada in a report on Wednesday, October 10th. They issued an “overweight” rating and a $70.00 target price for the company. ValuEngine raised Franco Nevada from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Franco Nevada in a report on Monday, September 10th. Desjardins raised Franco Nevada from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Finally, Zacks Investment Research cut Franco Nevada from a “hold” rating to a “strong sell” rating in a report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Franco Nevada has a consensus rating of “Hold” and an average target price of $87.50.
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Franco Nevada Company Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.
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