FNV

GDX dropped 21% in Q2 2026 but remains up 50% over the trailing year, creating a contrarian setup for gold miner bulls. GLD returned 22% over the past year while GDX returned 50%, showing that miners' operational leverage amplifies gold's upside just as it amplifies its downside. Genesis Minerals' $3.9 billion rival bid for Vault Minerals signals producers view gold ounces as cheap and their cash flows as durable. Many financial professionals are salespeople paid on what they push, not whether you end up wealthier. A fiduciary is the opposite. The SEC legally requires them to put your interests first. Advisor.com's free matching tool pairs you with vetted fiduciaries from major national firms, all in under three minutes. See who you match with today. Gold miners just got taken to the woodshed. The VanEck Gold Miners ETF (NYSEARCA:GDX) shed 21% in the second quarter of 2026, sliding from $96 in early April to roughly $75 by June 30, one of the ugliest three-month stretches for the sector in over a decade. Yet GDX is still up almost 50% over the trailing year. Contrarians hunt exactly that gap between recent pain and the underlying trend, and GDX is the cleanest way to express it. GDX tracks the NYSE Arca Gold Miners Index, a basket of large-cap producers led by Newmont (NYSE:NEM), Agnico Eagle (NYSE:AEM), Barrick Gold (NYSE:B), and royalty companies like Franco-Nevada (NYSE:FNV) and Wheaton Precious Metals (NYSE:WPM). You are buying the businesses that dig it up, refine it, and sell it, which is a very different animal from owning the metal itself. Most Americans suspect they're behind on retirement and never find out. Advisor.com's free matching tool pairs you in about three minutes with a vetted fiduciary advisor who can help you with investing, taxes, retirement, estate planning, and more. No minimums. No sales call. Find out where you stand. The return engine is operational leverage. A miner's all-in sustaining cost might sit around $1,400 an ounce. When gold trades at $2,000, that spread is one thing. When gold pushes to $3,000, the extra revenue drops almost entirely to the bottom line. Free cash flow explodes, dividends get raised, and the equity re-rates. That mechanic runs in reverse on the way down, which is what just happened. SPDR Gold Shares (NYSEARCA:GLD), the physical bullion proxy, fell roughly 12% from early April through early July. GDX fell...

Franco-Nevada recently reported record first-quarter 2026 results, with revenue reaching US$650.7 million and adjusted earnings of US$2.38 per share, while also announcing a leadership change as Tom Albanese became independent non-executive Chair. The company’s confirmation of maintained 2026 gold-equivalent guidance and expected Cobre Panamá stream deliveries starting in the third quarter of 2026 adds clearer visibility to its near-term royalty and streaming pipeline. With record quarterly performance and increased clarity around Cobre Panamá’s upcoming contributions, we’ll now examine how this news reshapes Franco-Nevada’s investment narrative. Find 8 companies with promising cash flow potential yet trading below their fair value. To own Franco-Nevada, you have to believe in the appeal of a royalty and streaming model that is tightly linked to precious metal prices, yet buffered by diversification and a strong balance sheet. The key near term catalyst remains the resumption of Cobre Panamá stream deliveries, and the latest confirmation of expected third quarter 2026 volumes improves visibility. The biggest current risk still lies in asset concentration and potential disruptions at major revenue contributors, which this news does not fundamentally change. Against that backdrop, the record first quarter 2026 results, with US$650.7 million in revenue and adjusted earnings of US$2.38 per share, matter because they show how sensitive Franco-Nevada’s financials are to commodity prices and new asset contributions. The leadership transition to Tom Albanese as independent non executive Chair also reinforces governance continuity at a time when investors are focused on execution around Cobre Panamá and the broader precious metals royalty pipeline. Read the full narrative on Franco-Nevada (it's free!) Franco-Nevada’s narrative projects $3.0 billion revenue and $2.1 billion earnings by 2029. This requires 12.6% yearly revenue growth and roughly a $0.7 billion earnings increase from $1.4 billion today. Uncover how Franco-Nevada's forecasts yield a CA$410.64 fair value, a 40% upside to its current price. Yet while the bullish analysts were assuming revenue could reach about US$2.7 billion and earnings US$1.9 billion by 2029, you should also weigh how concentrated assets like Cobre Panamá leave Franco-Nevada exposed to... Compared with the baseline, the most optimistic a...

It has been about a month since the last earnings report for Franco-Nevada (FNV). Shares have lost about 13.4% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Franco-Nevada due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Franco-Nevada reported adjusted earnings of $2.38 per share for the first quarter of 2026, beating the Zacks Consensus Estimate of $2.09 by 13.9%. Earnings jumped 122.4% from $1.07 a year ago, supported by higher commodity prices and contributions from recently added assets. Revenues were a record $650.7 million, up 76.6% year over year. Operationally, Franco-Nevada sold 136,353 gold-equivalent ounces, an 8% increase, reflecting strength across precious metals and diversified interests. Precious Metal assets remained the engine of Franco-Nevada’s quarter, accounting for $568.1 million of revenues from royalty, stream and working interests. Gold contributed $436.9 million, while silver added $113.5 million and platinum group metals generated $17.7 million. Diversified assets produced $82.6 million of revenues. Within that bucket, iron ore contributed $17.1 million and energy assets added a meaningful cash flow, led by oil at $33.5 million and gas at $20.6 million, with natural gas liquids contributing $5.3 million. FNV translated the revenue strength into higher profitability, with adjusted EBITDA of $591.9 million, up 83.9% from the year-ago period. The adjusted EBITDA margin expanded to 91% from 87.4%, helped by the company’s royalty and streaming structure, and the benefit of higher realized prices. Net income climbed 123% year over year to $468.6 million. Costs of sales came in at $124 million compared with $107 million in the prior-year quarter. The operating cash flow rose 80% to $520.4 million from the prior-year quarter. The quarter included a $49.5-million refund tied to a Canada Revenue Agency settlement, which added to cash generation alongside higher receipts from royalty and stream interests. Franco-Nevada ended March 31, 2026, with $714.7 million in cash and cash equivalents, up from $670.9 million at the end of 2025. Available capital totaled $3.4 billion, reflecting cash, equity inv...

Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE. Franco-Nevada (TSX:FNV) is back on investors’ radar after reporting record Q1 2026 financial results and receiving approval to process existing ore stockpiles at the previously suspended Cobre Panama operation. See our latest analysis for Franco-Nevada. The recent Q1 record results and Cobre Panama stockpile approval have coincided with a 2.95% 1 day share price gain and a 14.74% year to date share price return. The 1 year total shareholder return of 40.32% and 5 year total shareholder return of 83.59% suggest momentum has been building over time. If this renewed interest in precious metals has you thinking more broadly about the space, it is worth scanning the 33 elite gold producer stocks as a next step. With record Q1 figures on the table, Cobre Panama stockpiles cleared, and the stock up 40.32% over 1 year, investors may now be asking whether Franco-Nevada is still undervalued or whether the market is already pricing in future growth. At a last close of CA$328.26 versus a widely followed fair value narrative of CA$410.36, Franco-Nevada is framed as having meaningful upside based on long term assumptions that go well beyond the current Cobre Panama headlines. Read the complete narrative. Want to see what is sitting underneath that CA$410.36 fair value tag? The narrative leans heavily on compounding earnings, expanding margins and a premium profit multiple. Curious which assumptions need to hold for that view to stay intact and how sensitive the story is to changes in gold prices and project timelines? The full narrative lays out the exact growth path and discount rate used to reach that number. Result: Fair Value of CA$410.36 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this depends on gold prices remaining supportive and key assets like Cobre Panama and Candelaria avoiding regulatory or operational setbacks that could pressure earnings. Find out about the key risks to this Franco-Nevada narrative. While the CA$410.36 fair value narrative points to upside, the current P/E of 33.3x tells a different story. It sits well above the Canadian Metals and Mining industry at 15.6x, the peer average at 18.4x, and even the 19.4x fair ratio...

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. Franco-Nevada (TSX:FNV) is back in focus after reporting first quarter 2026 results, with sales of US$648.5 million and net income of US$468.6 million, alongside a reaffirmed quarterly dividend of US$0.44 per share. See our latest analysis for Franco-Nevada. At a share price of CA$309.61, Franco-Nevada has given investors a year to date share price return of 8.22%, while the 1 year total shareholder return of 35.86% and 5 year total shareholder return of 79.14% point to momentum that has built over time. This comes even though the share price has fallen over the past month and quarter despite the recent earnings beat, dividend affirmation, and board election update. If strong results in precious metals have caught your attention, this can be a useful moment to scan the wider gold space using our curated list of 33 elite gold producer stocks With Franco-Nevada trading at CA$309.61 and only a modest implied discount to some valuation estimates, investors now face a key question: is there still mispricing here, or is the market already baking in future growth? With Franco-Nevada last closing at CA$309.61 against a widely followed fair value estimate of CA$400.56, the current price sits below what this narrative suggests, putting the focus firmly on whether the underlying thesis holds up. Read the complete narrative. Curious what kind of revenue expansion, margin uplift, and future earnings multiple are built into that fair value number? The narrative leans on ambitious growth assumptions, premium profitability, and a valuation profile that looks more like a fast growing compounding story than a typical metals stock. Result: Fair Value of CA$400.56 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, the picture can change quickly if key assets such as Cobre Panama face setbacks, or if weaker metal prices put pressure on royalty revenues and margins. Find out about the key risks to this Franco-Nevada narrative. While the fair value model points to a modest 3% discount, the current P/E of 31.8x is well above both the Canadian Metals and Mining industry at 16.1x and the estimated fair ratio of 22.2x. This means you are paying a clear premium, so is that upside already priced i...

Interested in Franco-Nevada Corporation? Here are five stocks we like better. Franco-Nevada posted record Q1 2026 results, with revenue up 77% to $650.7 million and adjusted net income up 123% to $458.3 million. Management said stronger precious metals prices, recent acquisitions and key asset contributions drove the quarter. Margins improved sharply as the average gold price jumped 70% year over year, while silver and platinum surged even more. Margin per GEO rose 77% to $4,534, and assets like Antamina, South Arturo and newly acquired Côté and Porcupine added meaningful growth. The company remains well capitalized and active on deals, ending the quarter with $3.4 billion in available capital and adding a new $500 million credit facility after quarter-end. Franco-Nevada also pointed to a busy pipeline of precious-metals transaction opportunities and ongoing progress at Cobre Panamá. Franco-Nevada May Be the Best Way to Play a Commodity Supercycle Franco-Nevada (NYSE:FNV) reported record first-quarter 2026 financial results, with management citing higher precious metals prices, recent acquisitions and strong contributions from several key assets as the main drivers of performance. President and CEO Paul Brink said the company posted record revenue, operating cash flow, adjusted EBITDA and net income in the quarter. He also noted a gain from the partial buyback of the company’s Cascabel stream and royalty interests after the project moved into the hands of Jiangxi Copper, which Brink described as “a party we believe is very capable of building and operating a large-scale mine.” → Rocket Lab Just Hit a New All-Time High—Time to Buy or Let It Breathe? Gold, Copper, and Missiles: 3 Big Dividend Raises After a Breakout Year Brink opened the call by acknowledging a board transition following the company’s annual meeting. David Harquail gave his final address as chair before becoming chair emeritus, while Tom Albanese, formerly Franco-Nevada’s lead independent director and a former CEO of Rio Tinto plc and Vedanta Resources, assumed the chair role. Chief Financial Officer Sandip Rana said revenue rose 77% year over year to $650.7 million, while adjusted EBITDA increased 84% to $591.9 million. Adjusted net income was $458.3 million, or $2.38 per share, up 123% and 122%, respectively, from the prior-year period. → MP Materials Is Quietly Building a Rare Earth Powerho...

This article first appeared on GuruFocus. Revenue: Increased by 77% to $650.7 million, a record for the quarter. Adjusted EBITDA: Rose 84% to $591.9 million, also a record. Adjusted Net Income: $458.3 million or $2.38 per share, up 123% and 122%, respectively. Total GEOs Sold: Increased 8% to 136,353 compared to 126,585 in the prior year. Precious Metal GEOs Sold: 117,980, higher by 17% compared to prior year. Cost of Sales: Increased to $46.5 million from $38.5 million last year. Depletion: Increased to $77.9 million from $68.4 million a year ago. Cash Cost per GEO: Increased from $304 in Q1 2025 to $341 in Q1 2026, a 12% increase. Margin per GEO: Increased from $2,559 to $4,534, a 77% increase. Dividend: Increased by 16% to $0.44 per share per quarter, $1.76 per share annualized. Available Capital: $3.4 billion, including $715 million in cash and $1.5 billion credit facility. Warning! GuruFocus has detected 5 Warning Signs with BABA. Is FNV fairly valued? Test your thesis with our free DCF calculator. Release Date: May 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Franco-Nevada Corp (NYSE:FNV) reported record financial results for Q1 2026, with revenue increasing by 77% to $650.7 million. The company benefited from higher commodity prices, particularly gold and silver, which saw significant year-over-year increases. Franco-Nevada Corp (NYSE:FNV) completed four new acquisitions, enhancing its portfolio with attractive resource optionality in good mining jurisdictions. The company received an upgrade of its MSCI ESG rating from AA to AAA, placing it in the top tier among mining and precious metal players. Franco-Nevada Corp (NYSE:FNV) has $3.4 billion in available capital, providing a robust pipeline of business development opportunities. The company experienced an increase in cost of sales due to higher fixed costs paid for stream ounces. Depletion costs increased to $77.9 million, attributed to recent transactions with higher per ounce depletion assets. There was a decrease in diversified GEOs sold, despite diversified revenue being higher year-over-year. The company faces potential challenges with the new transfer pricing rules in Canada, although they are still evaluating the impact. Franco-Nevada Corp (NYSE:FNV) did not receive any deliveries from Casa Berardi in Q1, which may affect short-...

Franco-Nevada Corporation reported record first-quarter 2026 results, with sales rising to US$648.5 million and net income reaching US$468.6 million, while basic earnings per share from continuing operations increased to US$2.43. Beyond the headline growth, the quarter underscored Franco-Nevada’s enlarged royalty and streaming portfolio, upgraded AAA MSCI ESG rating, and US$3.40 billion of available capital supporting future deals. Now we’ll examine how these record earnings, powered by higher precious metals prices and new acquisitions, reshape Franco-Nevada’s investment narrative. This technology could replace computers: discover 26 stocks that are working to make quantum computing a reality. To own Franco-Nevada, you need to believe in the resilience of its royalty and streaming model and its leverage to precious metals prices, while accepting exposure to commodity cycles and key assets like Cobre Panamá. The record Q1 2026 results highlight how sensitive earnings are to higher metals prices and new deals, but they do not remove the concentration and permitting risks that still sit at the center of the story in the near term. The most relevant recent development alongside these earnings is Franco-Nevada’s confirmation of 2026 guidance for 510,000 to 570,000 gold equivalent ounces, excluding any upside from a potential Cobre Panamá restart. Combined with US$3.40 billion of available capital and four new acquisitions, this reinforces the near term volume and deal pipeline that underpins the current catalyst on Cobre Panamá, while leaving permitting, regulatory and portfolio concentration risks firmly in view. Yet behind the strong quarter, the dependence on a few large assets remains something investors should be aware of if... Read the full narrative on Franco-Nevada (it's free!) Franco-Nevada's narrative projects $2.8 billion revenue and $2.0 billion earnings by 2029. Uncover how Franco-Nevada's forecasts yield a CA$400.56 fair value, a 21% upside to its current price. Before this record quarter, the most pessimistic analysts were still assuming revenue could reach about US$2.6 billion and earnings US$1.6 billion by 2028, yet they viewed Cobre Panamá timing and permitting slippage as enough to justify a much lower fair value, which shows how differently you and other shareholders might interpret the same risks and how this new result could shift those vie...

National Bank Financial on Wednesday upgraded its rating on the shares of Franco-Nevada (FNV.TO, FNV

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved record revenue, adjusted EBITDA, and net income primarily driven by a 70% increase in average gold prices and significant silver price appreciation. Realized a $63.8 million gain from a partial buyback of the Cascabel stream as the asset transitioned to Jiangxi Copper, a partner management views as highly capable of large-scale development. Attributed strong precious metal GEO growth to significant silver deliveries from Antamina and the commencement of Phase 1 open pit production at South Arturo. Expanded the portfolio through four new acquisitions in Q1, targeting attractive resource optionality in stable mining jurisdictions like Nevada and Western Australia. Maintained high margins despite a 12% increase in cash costs per GEO, as the royalty and streaming model effectively insulated the company from broader energy and cost inflation. Reported encouraging progress at Cobre Panama, including the restart of power plant units and government approval to process stockpiles, which allows for the restart of mills. Highlighted significant portfolio optionality with total attributable ounces valued at $124 billion at current prices, nearly triple the company's current market capitalization. Anticipates a stronger Q2 and second half of the year due to recent oil price spikes, noting that a $10 increase in WTI prices above the $70 guidance assumption increases oil revenue by approximately 12%. Expects total GEO production to increase as the year progresses, supported by the ramp-up of the Cote mine and upcoming deliveries from Condestable and Casa Berardi. Projects a decrease in the depletion rate over time as reserves grow at recently acquired higher-depletion assets like Yanacocha, Western Limb, Porcupine, and Cote. Maintains a robust deal pipeline with a focus on mid-tier developers seeking capital and large-scale operators looking to monetize precious metal streams within diversified portfolios. Assumes a sustainable and progressive dividend strategy, prioritizing long-term raises over one-time special dividends regardless of commodity price volatility. Recorded a $63.8 million gain related to the Cascabel royalty and stream buyback, which is excluded from GEO, revenue, and adjusted EBITDA metrics. Sett...

On Wednesday, Franco-Nevada (TSX:FNV) discussed first-quarter financial results during its earnings call. The full transcript is provided below. Benzinga APIs provide real-time access to earnings call transcripts and financial data. Visit https://www.benzinga.com/apis/ to learn more. Access the full call at https://app.webinar.net/6ZxMw37wnb0 Franco-Nevada Corp reported record financial results for Q1 2026 with significant increases in revenue, operating cash flow, adjusted EBITDA, and net income driven by higher commodity prices and recent acquisitions. The company completed four new acquisitions, including a gold stream with Orzone on Casabrati and royalty financings in Nevada and Western Australia, enhancing their portfolio with attractive resource optionality. Franco-Nevada Corp's operational highlights included progress at Cobra Panama, where coal shipments were received and power plant units restarted, and an ongoing environmental audit showed no material deficiencies. The company expanded sustainability initiatives, including diversity scholarships and community education programs, and received an upgrade to AAA in MSCI ESG rating. Management highlighted a robust pipeline of business development opportunities with $3.4 billion in available capital, expecting stronger financial performance in Q2 due to higher energy prices and increased deliveries. The Q&A session addressed potential trends in acquisitions, operational details of key assets, and financial structuring strategies, including additional credit facilities for financial flexibility. OPERATOR Good morning and welcome to Franco-Nevada Corp's first quarter 2026 results, conference call and webcast. This call is being recorded on May 13, 2026. At this time, all lines are in a listen only mode. Following the presentation, we will conduct a Q and A session where you may ask a question through the phone line or webcast. If you're joining by webcast, you may submit a reading question for the Q and A session at any time during this call by typing your question in the Q and A section of the webcast platform. If you require immediate assistance during this call, please press star zero at any time for the operator. I would now like to turn the conference over to your host, Vincent, VP Finance and Investor Relations. Please go ahead. Vincent Thank you. Vincent Good morning everyone. Thank you for joining...

Franco-Nevada (NYSE:FNV) held its first-quarter earnings conference call on Wednesday. Below is the complete transcript from the call. This transcript is brought to you by Benzinga APIs. For real-time access to our entire catalog, please visit https://www.benzinga.com/apis/ for a consultation. View the webcast at https://app.webinar.net/6ZxMw37wnb0 Franco-Nevada Corp reported record financial results for Q1 2026, with significant increases in revenue, operating cash flow, adjusted EBITDA, and net income driven by high commodity prices and recent acquisitions. The company completed four new acquisitions, expanding its portfolio with assets in attractive mining jurisdictions, and highlighted progress in sustainability initiatives, receiving an MSCI ESG rating upgrade to AAA. Future outlook is positive with expectations of continued strong performance due to high commodity prices, particularly in precious metals, and a robust pipeline of business development opportunities supported by $3.4 billion in available capital. OPERATOR Good morning and welcome to Franco-Nevada Corp's first quarter 2026 results, conference call and webcast. This call is being recorded on May 13, 2026. At this time, all lines are in a listen only mode. Following the presentation, we will conduct a Q and A session where you may ask a question through the phone line or webcast. If you're joining by webcast, you may submit a reading question for the Q and A session at any time during this call by typing your question in the Q and A section of the webcast platform. If you require immediate assistance during this call, please press star zero at any time for the operator. I would now like to turn the conference over to your host, Bonavie Tech VP Finance and Investor Relations. Please go ahead. Vincent Thank you. Vincent Good morning everyone. Thank you for joining us today to discuss Franco-Nevada Corp's first quarter 2026 results. Accompanying this call is a presentation which is available on our website at franco-nevada.com where you will also find our full financial results. The presentation is also available to view on the webcast. During our call this morning, Paul Brink, President and CEO of Franco Nevada will provide introductory remarks followed by Sandeep Rana, Chief Financial Officer, who will provide a brief review of our results. This will be followed by a Q and A period. Our execu...