TORONTO (AP) _ Franco-Nevada Corp. (FNV) on Wednesday reported second-quarter net income of $53.6 million.

The Toronto-based company said it had profit of 29 cents per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The precious metals streaming and royalty company posted revenue of $161.3 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $172.3 million.

Franco-Nevada shares have fallen roughly 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $72, a decline of 1 percent in the last 12 months.


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