Franco-Nevada reports fourth-quarter loss of $31.4 million

TORONTO – TORONTO (AP) _ Franco-Nevada Corp. (FNV) on Thursday reported a fourth-quarter loss of $31.4 million, after reporting a profit in the same period a year earlier.

The Toronto-based company said it had a loss of 20 cents per share. Earnings, adjusted for one-time gains and costs, were 15 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The precious metals streaming and royalty company posted revenue of $121.3 million in the period.

For the year, the company reported profit of $24.6 million, or 16 cents per share. Revenue was reported as $443.6 million.

Franco-Nevada shares have increased 32 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $60.56, a rise of 30 per cent in the last 12 months.


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Keywords: Franco-Nevada, Earnings Report