Franco-Nevada Corp

FNV

Equity

ISIN CA3518581051 / Valor 3590522

Toronto Stock Exchange (2024-12-24)

CAD 170.67+1.07%

Franco-Nevada Corp
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About company

Franco-Nevada Corp is a prominent gold-focused royalty and streaming company with a vast and varied portfolio of royalties and streams across different commodities, geographies, revenue types, and project stages. The company's shares are publicly traded on the Toronto and New York stock exchanges. Investors in Franco-Nevada can expect to benefit from potential yield and exposure to commodity price fluctuations and exploration opportunities, while minimizing exposure to cost inflation and operational risks.

Summarized from source with an LLMView SourceSector: Energy

Revenue Performance

In Q3 2024, Franco-Nevada Corp reported revenue of $275.7 million, which represents a decrease of 11% compared to Q3 2023. However, when excluding the impact of Cobre Panama, revenue increased by 14%. The quarter benefited from record gold prices, although contributions from Candelaria and Energy assets were lower.

Gold Equivalent Ounces (GEOs) Sold

Franco-Nevada Corp sold 110,110 GEOs in Q3 2024, marking a 32% decline compared to Q3 2023. This decrease was partly due to a 22% impact from Cobre Panama and a 3% reduction due to record gold prices, which affected the conversion of non-gold revenue into GEOs.

Net Income and Adjusted EBITDA

The company reported a net income of $152.7 million or $0.79 per share for Q3 2024, down 13% from Q3 2023. Adjusted EBITDA was $236.2 million or $1.23 per share, a 7% decrease compared to the same period last year. Excluding Cobre Panama, Adjusted EBITDA increased by 16%.

Dividend and Financial Position

Franco-Nevada Corp declared a quarterly dividend of $0.36 per share, effective Q1 2024, reflecting an annual increase of 5.88%. The company maintains a strong financial position with no debt and $2.3 billion in available capital as of September 30, 2024.

Guidance and Outlook

For the full year 2024, Franco-Nevada Corp expects revenue to be between $1,050 million and $1,150 million. The company revised its GEO sales guidance due to lower than expected gold production at Candelaria and slower ramp-ups at new mines. The revised guidance for total GEOs is 445,000 to 465,000, with Precious Metal GEO sales expected to be between 340,000 and 360,000.

Summarized from source with an LLMView Source

Key figures

15.7%1Y

-1.93%3Y

27.9%5Y

Performance

26.0%1Y

26.6%3Y

30.1%5Y

Volatility