05:26 PM EDT, 05/01/2024 (MT Newswires) -- Franco-Nevada ( FNV ) edged uo in after-hours New York trading after the company on Wednesday said its first-quarter profit and revenue dropped following last year's suspension of operations at First Quantum Minerals (FM.TO) Cobre Panama mine, the royalty and streaming company's largest investment.

The company said its profit in the quarter fell 8% to US$144.5 million or US$0.75 per share.

Revenue fell 7% to US$256.8 million.

"Our diversified portfolio performed well and production for the quarter met expectations. Elevated gold prices translated directly into some of our highest ever margins ... While Cobre Panama remains on preservation and safe management, we are hopeful that the issues can be resolved. Franco- Nevada ( FNV ) has no debt, $2.3B in available capital and has an active deal pipeline," chief executive Paul Brink said in a release.

The company's shares were last seen up US$0.19 to US$122.02. They closed up C$1.87 to C$167.59 on the Toronto Stock Exchange.