Franco-Nevada (NYSE:FNV) Releases Quarterly Earnings Results, Misses Estimates By $0.14 EPS

Key Points

• Franco-Nevada reported quarterly EPS of $1.81, missing the analyst consensus estimate of $1.95 by $0.14. The company posted an 18.10% return on equity and a 65.12% net margin.
• The stock traded at $241.06, with a market capitalization of approximately $46.49 billion and a price-to-earnings ratio of 33.95. Institutional investors own 77.06% of the company.
• Analyst sentiment remains positive but tempered, with an overall “Moderate Buy” rating and a consensus price target of $273.40; several firms recently lowered their targets or downgraded the stock to “Hold.”

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV released its quarterly earnings results on Tuesday. The basic materials company reported $1.81 EPS for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14), Zacks reports. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.

Franco-Nevada Price Performance

FNV traded up $0.16 during trading on Tuesday, hitting $241.06. 702,485 shares of the stock traded hands, compared to its average volume of 857,395. Franco-Nevada has a twelve month low of $173.39 and a twelve month high of $285.67. The company has a market cap of $46.49 billion, a price-to-earnings ratio of 33.95, a PEG ratio of 2.01 and a beta of 0.35. The business has a 50 day moving average price of $215.22 and a 200 day moving average price of $235.73.

Hedge Funds Weigh In On Franco-Nevada

Hedge funds and other institutional investors have recently modified their holdings of the business. Clark Capital Management Group Inc. lifted its position in shares of Franco-Nevada by 1.0% during the 4th quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company's stock worth $1,048,000 after buying an additional 50 shares during the last quarter. Guardian Partners Inc. boosted its stake in Franco-Nevada by 3.2% in the fourth quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company's stock valued at $351,000 after buying an additional 52 shares in the last quarter. Private Advisor Group LLC grew its position in Franco-Nevada by 0.3% in the fourth quarter. Private Advisor Group LLC now owns 22,824 shares of the basic materials company's stock valued at $4,731,000 after acquiring an additional 60 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Franco-Nevada by 26.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 316 shares of the basic materials company's stock valued at $66,000 after acquiring an additional 66 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Franco-Nevada by 10.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 971 shares of the basic materials company's stock worth $201,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FNV. Jefferies Financial Group decreased their target price on shares of Franco-Nevada from $258.00 to $245.00 and set a "hold" rating on the stock in a research report on Monday, July 6th. HC Wainwright reiterated a "buy" rating and issued a $305.00 price target on shares of Franco-Nevada in a research report on Wednesday, May 13th. Wall Street Zen cut Franco-Nevada from a "buy" rating to a "hold" rating in a research note on Monday, June 1st. UBS Group decreased their price target on Franco-Nevada from $310.00 to $280.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Finally, Weiss Ratings downgraded Franco-Nevada from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, June 8th. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $273.40.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company's business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source