Franco-Nevada Reports Strong Q3 Despite GEO Challenges
Company Announcements

Franco-Nevada Reports Strong Q3 Despite GEO Challenges

Franco-Nevada Corporation ( (FNV) ) has released its Q3 earnings. Here is a breakdown of the information Franco-Nevada Corporation presented to its investors.

Franco-Nevada Corporation is a leading gold-focused royalty and streaming company with a diversified portfolio of cash-flow producing assets, primarily in the gold and precious metals sector, and operates with no debt while maintaining a strong balance sheet. In its Q3 2024 earnings report, Franco-Nevada highlighted record revenues and earnings driven by high gold prices, despite a decline in GEO sales compared to the previous year, mainly due to the absence of contributions from Cobre Panama. The company reported $275.7 million in revenue, a 10.9% decrease from Q3 2023, but a 14% increase excluding Cobre Panama. Notable performances came from new contributions like the Tocantinzinho mine and other investments. Franco-Nevada remains financially robust with $1.3 billion in cash and no debt, and it declared a quarterly dividend of $0.36 per share. Looking ahead, the company is adjusting its guidance for 2024 due to revised production expectations and continues to explore growth through strategic acquisitions and new streams and royalties.

Related Articles
TheFlyFranco-Nevada price target lowered to C$235 from C$265 at CIBC
TheFlyFranco-Nevada price target lowered to $141 from $142 at Scotiabank
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App