Franco-Nevada

FNV

Market cap $54.1B

The Overseas Equity ETF posted a return of 6.45% in fourth quarter 2025. Samsung's results reflect continued strong demand and shortage-induced pricing strength for DRAM chips and persistent demand from hyperscalers driven by AI infrastructure buildouts. Strong gold and copper prices drove cash flows during the quarter, and operating leverage was enhanced by resumed gold production in Mali.

(in U.S. dollars unless otherwise noted) TORONTO, Feb. 22, 2026 /PRNewswire/ - Franco-Nevada Corporation ("Franco-Nevada" or the "Company") (TSX: FNV)(NYSE: FNV) is pleased to announce that, through a wholly-owned Australian subsidiary, it has entered into an agreement to acquire a A$170 million (approximately $120 million) gross royalty (the "Royalty") from Minerals 260 Limited ("Minerals 260") to support its development of the Bullabulling Gold Project ("Bullabulling" or the "Project") located in Western Australia. Additionally, Franco-Nevada has agreed to subscribe for A$50 million (approximately $35 million) of Minerals 260's ordinary shares (the "Shares").

(in U.S. dollars unless otherwise noted) TORONTO, Feb. 12, 2026 /PRNewswire/ - Franco-Nevada Corporation ("Franco-Nevada" or the "Company") (TSX: FNV)(NYSE: FNV) is pleased to announce that, through a wholly-owned U.S. subsidiary, it has entered into an agreement to acquire a $250 million net smelter return royalty (the "Royalty") from i-80 Gold Corp. ("i-80 Gold") to support its recapitalization plan and strategy of creating a Nevada-focused mid-tier gold producer. The Royalty rate will initially be 1.5%, increasing to 3.0% beginning in 2031, and will apply to all of i-80 Gold's material properties including their six projects in various stages of development.

I see a rising risk of a second inflation wave, with consensus underestimating persistent inflation above 3% through 2026. Leading indicators like the ISM Manufacturing Prices Index and commodity prices signal renewed inflationary pressures despite subdued official CPI data. My investment thesis favors energy royalties, critical materials, infrastructure, and luxury stocks with strong pricing power to offset inflation risks.

Franco-Nevada (FNV) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

For the defense and mining industries, 2025 was a standout year. The iShares U.S. Aerospace & Defense ETF BATS: ITA tracks the performance of a basket of over 40 U.S. aerospace and defense companies.

The case for gold and gold miners is compelling for two reasons.

TORONTO, Jan. 28, 2026 /PRNewswire/ - Franco-Nevada Corporation announced today that it will report its year-end 2025 results as follows: Year-end 2025 Results Release: March 10th after market close Conference Call: March 11th 10:00 am ET Dial-in Numbers: Toll-Free: 1-888-510-2154 International: 437-900-0527 Conference Call URL (This allows participants to join the conference call by phone without operator assistance. Participants will receive an automated call back after entering their name and phone number): emportal.ink/3LNbCaA Website: www.franco-nevada.com Replay (available until March 18th): Toll-Free: 1-888-660-6345 International: 289-819-1450 Passcode: 83241# View original content:https://www.prnewswire.com/news-releases/franco-nevada-to-release-year-end-2025-results-302673059.html SOURCE Franco-Nevada Corporation

Franco-Nevada is upgraded to a buy rating based on an improved quantitative score of 80/100, reflecting enhanced profitability and efficiency. FNV's unique royalty-based model offers high margins and low operational risk, but geopolitical and asset-specific risks, notably Cobre Panama, remain material. Despite a bullish gold outlook, FNV trades at a 38% premium to historical multiples, making current valuation unattractive for new positions.

White Falcon's top 5 positions for the White Falcon portfolio are precious metal royalty companies, AMD, NFI Group, EPAM, and Nu Holdings. Nu is likely to keep growing earnings at 30+% for many years to come and its stock price will likely follow. NFI currently trades at 11x this year's earnings and we think it can re-rate to 15-20x within the next two years.