7 stories mentioning FNV
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Franco-Nevada (FNV) shares were up over 1% in Wednesday trading after TD Cowen upgraded the stock to buy from hold.Trading volume stood at more than 407,000 shares, compared with a daily average of about 827,000.Price: $225.76, Change: $+3.02, Percent Change: +1.36%
Franco-Nevada Corp (FNV.TO, FNV) was upgraded to Buy from Hold at TD Securities on Wednesday.Analyst Derik Ma lowered his price target on shares of the Toronto-based gold-focused royalty and streaming company to US$291 from US$292."We are upgrading FNV... reflecting a compelling combination of balance sheet strength, robust deal flow, and a potential Cobre Panama catalyst within the next 6 months," Ma said in a note to clients."Despite these positive attributes, FNV is trading at near 5-year valuation trough multiples, presenting an attractive entry point," the analyst said."We are confident in management's ability to grow the business in a strong deal environment," Ma said. "FNV's financial capacity allows it to pursue large-scale deal opportunities without capital restrictions or limitations."
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We cut our 12-month target price by CAD27 to CAD416, as we now assume a lower P/E multiple (tracking the multiple contraction in the peer group). We now use a P/E of 28.0x (vs. 34.8x previously) applied to our 2027 EPS estimate. Our assumed P/E is in between FNV's two-year average forward P/E of 33.9x and peers' average forward P/E of 22.3x. The lower P/E multiple is partly offset by higher EPS estimates mostly due to higher commodity prices: we increased 2026's to USD9.57 (from USD8.61) and 2027's to USD10.81 (from USD9.30). FNV's royalty/streaming model provides significant operating leverage to commodity prices while remaining largely insulated from cost inflationa key differentiator in the current environment. The company boasts the sector's largest and most diversified portfolio of 121 cash-flow producing assets, with resources supporting 34 years of mine life at current production rates. With USD3.4B in available capital and a robust acquisition pipeline, FNV is well-positioned for continued growth.
National Bank Financial on Wednesday upgraded its rating on the shares of Franco-Nevada (FNV.TO, FNV) to outperform from sector perform while raising its price target to C$420 from C$410 following the royalty company's first-quarter results."We have incorporated Q1 financials and modified some assets to better align with operator guidance. We continue to see improving momentum throughout H2 on progressing towards resumption of production from Cobre Panama, significant tailwinds from elevated oil & gas prices, improved option value given its large-scale portfolio, and a more compelling valuation relative to peers," analyst Shane Nagle wrote. .(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $331.68, Change: $+6.04, Percent Change: +1.85%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:FNV reported Q1 adjusted EPS of $2.38 vs. $1.07 prior year, $0.30 above consensus, with record revenue of $650.7M (+77% Y/Y) driven by gold averaging $4,875/oz (+70% Y/Y) and silver at $84.39/oz (+165% Y/Y). Adjusted EBITDA margins expanded to 91.0% from 87.4%, generating record adjusted EBITDA of $591.9M (+84% Y/Y). We believe FNV's capital-light model provides superior leverage to commodity prices while avoiding operational risks including cost inflation and technical challenges. Management maintained 2026 guidance of 510,000-570,000 GEOs, with ~90% from precious metals. Recent acquisitions totaling ~$515M, including i-80 Gold ($250M) and Casa Berardi ($100M), enhance growth while maintaining the debt-free balance sheet with $3.4B available capacity. Panama's authorization to process Cobre Panama stockpiled ore provides optionality, with potential for 150,000-175,000 annual GEOs if full restart occurs, though timing remains uncertain.
Gold streaming and royalty companies offer better growth and a stronger hedge against cost inflation than gold miners, with more stable margins and lower execution risk, UBS said in a note Wednesday.The analysts said that during the gold price upcycle last year, miners offered higher operational leverage to metal price upside, while inflationary pressures remained moderate and companies appeared less likely to miss guidance. At the same time, streaming companies like Franco-Nevada (FNV), Wheaton Precious Metals (WPM), and Royal Gold (RGLD) became cheaper relative to their historical valuations, they said.Looking ahead, gold prices are still expected to remain strong, but not rise as sharply as they did in 2025, the analysts said. Meanwhile, miners may face increasing cost pressures, especially from energy and potential disruptions, which could hurt margins, they added."We believe [Franco-Nevada, Wheaton Precious Metals, and Royal Gold] all offer superior near-term and medium-term growth prospects versus most large cap miners," the analysts said.UBS reiterated its buy ratings on Franco-Nevada with a $310 price target and on Wheaton Precious Metals with a $160 price target, and initiated Royal Gold with a buy rating and a $325 price target.Price: $256.03, Change: $-1.26, Percent Change: -0.49%