Franco-Nevada
Owns gold-focused royalties and streams while third parties operate the underlying mines.
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Profile
Owns gold-focused royalties and streams across hundreds of mining assets while third parties fund and operate the mines. Contract evaluation and portfolio diversification support a small corporate footprint, while cash-flow timing and asset values depend on operator performance, counterparties and host-country law.
Owns gold-focused royalties and streams across hundreds of mining assets without operating mines. Royalties provide contractual interests in production or revenue, while streams pair upfront funding with contracted purchases of future metal. The portfolio spans commodities, jurisdictions and development stages, including long-life precious-metal streams tied to large copper mines such as Candelaria, Antamina and Antapaccay.
Builds value by evaluating, acquiring and administering contracts through a small organization while mine operators fund and manage extraction. Diversification and long-duration agreements spread exposure across mines and regions, including North America, Latin America and Australia.
Cash-flow timing and asset values depend on operator performance, counterparties and host-country law. Cobre Panamá remains suspended; authorized stockpile processing did not constitute a mine restart. The company holds the economic interest but does not control mine operations, concessions or government decisions.
Company facts
Key statistics
Year to date +27.6% · Average volume (30d) 774.3K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 14, 2026 | Scotiabank | Reiterate | Sector Perform | $290 | $274 | |
| Jul 9, 2026 | RBC Capital | Reiterate | Outperform | $250 | $285 | |
| Jul 6, 2026 | Jefferies | Reiterate | Hold | $228 | $245 | |
| Jun 30, 2026 | UBS | Reiterate | Buy | $310 | $280 | |
| May 20, 2026 | TD Securities | Target | $152 | $291 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 11, 2026Q2 FY26 | $1.95 | $1.81 | −7.2% | $616.7M | $580.9M | −5.8% | −1.99% |
| May 12, 2026Q1 FY26 | $2.09 | $2.38 | +13.9% | $634.4M | $650.7M | +2.6% | +1.60% |
| Mar 10, 2026Q4 FY25 | $1.68 | $1.85 | +10.1% | $539.8M | $597.3M | +10.7% | +1.20% |
| Nov 3, 2025Q3 FY25 | $1.37 | $1.43 | +4.4% | $536.0M | $487.7M | −9.0% | −1.66% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $368.4M | $369.4M | $487.7M | $597.3M | $650.7M | $580.9M | |
| Gross profit | $261.5M | $271.9M | $353.5M | $460.4M | $526.3M | $451.0M | |
| Operating income | $246.4M | $263.4M | $337.2M | $457.8M | $510.9M | $445.7M | |
| Net income | $209.8M | $247.1M | $287.5M | $367.7M | $468.6M | $354.0M | |
| Diluted EPS | $1.09 | $1.28 | $1.49 | $1.94 | $2.39 | $1.83 | |
| Gross margin | 71.0% | 73.6% | 72.5% | 77.1% | 80.9% | 77.6% | |
| Operating margin | 66.9% | 71.3% | 69.1% | 76.6% | 78.5% | 76.7% |
Fiscal years (4-quarter sums)FY21 $1.30B · FY22 $1.32B · FY23 $1.22B · FY24 $1.11B · FY25 $1.82B
Revenue by product · FY25
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $1.01B · Total debt $0 · Total assets $8.92B · Shareholders' equity $8.24B
Dividends
Raised for 11 straight years — most recently to $0.44 from $0.38 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 11, 2026 | Jun 11 | Jun 25 | $0.44 | |
| Mar 12, 2026 | Mar 12 | Mar 26 | $0.44 | raised from $0.38 |
| Dec 4, 2025 | Dec 4 | Dec 18 | $0.38 | |
| Sep 11, 2025 | Sep 11 | Sep 25 | $0.38 | |
| Jun 12, 2025 | Jun 12 | Jun 26 | $0.38 | |
| Mar 13, 2025 | Mar 13 | Mar 27 | $0.38 | raised from $0.36 |
| Dec 5, 2024 | Dec 5 | Dec 19 | $0.36 | |
| Sep 12, 2024 | Sep 12 | Sep 26 | $0.36 |
Ownership
Shares outstanding 192.86M · Float 191.61M · 99.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 21.65M | 11.23% | 13F | Aug 13, 2026 |
| Massachusetts Financial Services Co /MA/ | 11.05M | 5.73% | 13F | Aug 3, 2026 |
| BlackRock, Inc. | 9.76M | 5.10% | 13G | Apr 23, 2025 |
| Van Eck Associates Corp | 7.02M | 3.64% | 13F | Aug 14, 2026 |
| FIL Ltd | 6.81M | 3.53% | 13F | Aug 13, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Wheaton Precious Metals
Closest large-scale rival in precious-metals streaming
- Royal Gold
Large precious-metals royalty and streaming rival
- Triple Flag Precious Metals
Growing rival in customized gold and silver financing
- OR Royalties
Tier-1-jurisdiction precious-metals royalty rival
- Gold Royalty
Smaller gold-focused rival in royalty acquisition and finance
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Franco-Nevada | $272.44 | +2.35% | $51.33B | 34.8 | 29.7 | 22.2 | +57.3% |
| Wheaton Precious Metals | $152.55 | −0.50% | $69.63B | 34.0 | 29.7 | 21.9 | +84.7% |
| Royal Gold | $263.05 | +0.06% | $22.31B | 28.7 | 21.8 | 14.4 | +114.9% |
| Triple Flag Precious Metals | $34.50 | +1.58% | $7.02B | 17.0 | 25.6 | 14.4 | +37.3% |
| OR Royalties | $36.90 | −1.31% | $7.01B | 24.9 | 22.2 | 17.9 | +120.8% |
| Gold Royalty | $3.35 | +1.21% | $766.3M | 503.0 | 44.7 | 34.0 | +76.1% |
| Median | 28.7 | 25.6 | 17.9 | +84.7% |