Why Franco-Nevada Investors Are More Excited Than Ever
If you want to profit from precious metals but don't want to deal with the ins and outs of mining operations, then Franco-Nevada (NYSE: FNV) is worth a closer look. The company chooses to enter into streaming and royalty agreements with natural resources companies rather than owning its own mines, profiting indirectly when its mining partners are successful and when prices of gold and silver rise. In recent years, that's been a recipe for success, and even when precious metals haven't behaved as well as many had hoped, Franco-Nevada has found ways to keep growing.
Over the past month, Franco-Nevada stock has reached new highs. The company's second-quarter earnings report early last month played a key role in building more positive momentum for the streaming specialist, but other developments have also contributed. Now more than ever, investors in Franco-Nevada seem optimistic about the company's future.
What investors saw from Franco-Nevada in the second quarter of 2017 was similar to results from previous quarters. Revenue climbed 8% from the year-ago quarter to $163.6 million, and net income climbed at the same 8% rate to $45.6 million. Adjusted pre-tax operating earnings were up at a more sedate 4% pace, but production climbed to more than 122,500 ounces.
Source: Fool.com