Franco-Nevada (FNV)

• Market cap: $33.1B
• 1 day: 1.68%
• 5 days: -0.42%
• 1 month: 9.03%
• 3 months: 26.09%
• 6 months: 26.11%
• Year to date: 41.81%
• 1 year: 42.67%
• 5 years: 29.93%
• 10 years: 231.43%
• Sector: Materials
• Industry: Gold

About: Franco-Nevada Corp is a precious-metals-focused royalty and investment company. The company owns a diversified portfolio of precious metals and royalty streams, which is actively managed to generate the bulk of its revenue from gold, silver, and platinum. The company does not operate mines, develop projects, or conduct exploration. Franco-Nevada's short-term financial performance is linked to the price of commodities and the amount of production from its portfolio of producing assets. Its long-term performance is affected by the availability of exploration and development capital. The company holds a portfolio of assets, diversified by commodity, revenue type, and stage of a project, located in the U.S, Canada, and Australia.

Employees: 40

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

42% more funds holding in top 10

Funds holding in top 10: 12 [Q3] → 17 (+5) [Q4]

2.15% more ownership

Funds ownership: 69.56% [Q3] → 71.71% (+2.15%) [Q4]

2% more repeat investments, than reductions

Existing positions increased: 171 | Existing positions reduced: 167

3% less capital invested

Capital invested by funds: $16.7B [Q3] → $16.2B (-$513M) [Q4]

3% less first-time investments, than exits

New positions opened: 59 | Existing positions closed: 61

2% less funds holding

Funds holding: 481 [Q3] → 473 (-8) [Q4]

38% less call options, than puts

Call options by funds: $78.7M | Put options by funds: $127M

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $152 12% downside
• Avg. target: $174 1% upside
• High target: $190 11% upside

5 analyst ratings

• positive: 3 60%
• neutral: 2 40%
• negative: 0 0%

Scotiabank Tanya Jakusconek 77% 1-year accuracy 20 / 26 met price target	4% downside $165	Sector Perform Maintained	14 Apr 2025
UBS Daniel Major 60% 1-year accuracy 9 / 15 met price target	11% upside $190	Buy Maintained	11 Apr 2025
Raymond James Craig Stanley 100% 1-year accuracy 3 / 3 met price target	5% upside $181	Outperform Maintained	4 Apr 2025
HC Wainwright & Co. Heiko Ihle 58% 1-year accuracy 115 / 200 met price target	5% upside $180	Buy Maintained	26 Mar 2025
TD Securities	12% downside $152	Hold Downgraded	11 Mar 2025