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Bank of Nova Scotia increased its holdings in shares of Franco-Nevada Corporation (NYSE: FNV) (TSE: FNV) by 5.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 485,345 shares of the basic materials company's stock after purchasing an additional 23,587 shares during the period. Bank of Nova
Franco-Nevada Corporation stands out for its unrivaled asset diversification, superior margins, and capital discipline, making it the premier vehicle in the precious metals sector. Record gold/silver prices helped it deliver record revenue ($651M), operating cash flow ($520M), and exceptional ~92.9% cash margins, with new assets and higher metals prices driving robust YoY growth. Importantly, FNV's business model shields it from inflation and provides it with massive discovery optionality, never mind unrivaled cash flow diversification vs. producers.
Franco-Nevada Corporation might have remained unmoved YTD, but with the current gold price weakness, even that means it has outperformed gold mining peers. A combination of its business model, prospects for the remainder of 2026 and market multiples contribute to FNV's relatively better performance. I assign a Buy rating, citing robust fundamentals, upside to historical P/E averages, and resilience despite gold's recent weakness.
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On June 29, 2026, Franco-Nevada Corp (FNV) shares fell 3.7% today, bringing the current price to $207.26. The stock has experienced a range of price performance
Franco-Nevada (FNV) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
The mean of analysts' price targets for Franco-Nevada (FNV) points to a 31% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
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SEC filings for FNV aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.