Franco-Nevada Profit Misses Estimates

(RTTNews) - Canadian gold company Franco-Nevada Corp (FNV, FNV.TO) on Wednesday reported fourth-quarter net earnings of $1.2 million or $0.00 per share compared with a loss of $80.6 million last year.

Excluding items, adjusted earnings for the quarter were $0.20 per share compared with earnings of $0.21 per share a year ago.

Revenues for the quarter rose 23% from last year to $123 million.

Analysts polled by Thomson Reuters estimated earnings of $0.22 per share on revenues of $116.5 million for the quarter. Analysts' estimates typically exclude special items.

The company's production for the quarter rose 33% from last year to 92,774 gold equivalent ounces.

For the full year 2015, the company expects attributable royalty and stream production of 335,000 to 355,000 gold equivalent ounces from its mineral assets and revenue of $20 million to $30 million from its oil & gas assets.

Franco-Nevada has raised its quarterly dividend by 5% to $0.21 per share.