Franco-Nevada Corp

FNV

Equity

ISIN null / Valor 3590522

Toronto Stock Exchange (2026-10-02)

CAD 340.75+1.53%

Franco-Nevada Corp
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About company

Franco-Nevada Corp is a prominent company in the mining sector, specializing in gold-focused royalty and streaming. It holds a diverse portfolio of royalties and streams that span various commodities, geographical locations, revenue types, and project stages. This diversification strategy helps mitigate risks associated with cost inflation and operational challenges, offering investors a unique opportunity to gain exposure to commodity prices and exploration potential. Franco-Nevada's shares are publicly traded on both the Toronto and New York stock exchanges under the ticker symbol FNV, making it accessible to a broad range of investors. The company's business model is designed to provide a stable yield while capitalizing on the potential upside of commodity markets without the direct risks of mining operations.

Summarized from source with an LLMView SourceSector: Energy

Revenue and volumes

Q2 2026 revenue: $580.9M (+57% vs Q2 2025). GEOs sold: 132,405 (+18%). Precious metals made up ~86% of Q2 revenue (70% gold, 14% silver, 2% PGM); revenue was 88% sourced from the Americas.

Profitability

Net income: $354.0M (US$1.84/share), up 43% yoy. Adjusted EBITDA: $529.7M (US$2.75/share), up 45%. Adjusted Net Income: $349.2M (US$1.81/share), up 46%.

Cash flow and balance sheet

Operating cash flow: $482.5M in Q2 (+12%). Available capital was $4.3B at June 30, 2026 (cash, investments and undrawn credit capacity). Franco‑Nevada remains debt‑free on a reported basis.

Guidance and Cobre Panamá impact

The company is tracking to the upper half of 2026 GEO guidance (510k–570k GEOs) aided by anticipated deliveries from Cobre Panamá’s processing of stockpiles (expected to deliver ~23,100 oz Au and ~265,000 oz Ag to Franco‑Nevada, with deliveries beginning Q3 2026 and ~1/3 in H2 2026) and higher oil/NGL prices.

Commodity and asset drivers

Q2 contributors included Antapaccay, Antamina, South Arturo, Musselwhite and incremental contributions from recently added/commissioned assets (Côté Gold, Casa Berardi, Valentine, Porcupine). Diversified assets (iron ore and energy) generated $82.2M in Q2 2026, up from $62.7M.

Portfolio activity

Notable Q2 / post‑quarter transactions: acquisitions of royalties/streams including Comet Vale (A$12M), Youanmi (A$47M), Greenstone interests, a six‑royalty portfolio from Victoria Gold (C$55M), the Casa Berardi gold stream, Bullabulling royalty support and an i‑80 NSR. Continued contributions to the Continental Royalty Acquisition Venture.

Dividend

Board declared a quarterly dividend of US$0.44 per share payable September 24, 2026 (record date September 10, 2026); DRIP available with a 1% treasury discount for treasury issuances.

Operational notes and near‑term outlook

Production expected to be H2‑weighted (Candelaria, Tocantinzinho, Côté Gold, Greenstone, Valentine). Management highlights resource growth, planned expansions and $4.3B of available capital to pursue further deals and portfolio growth.

Summarized from source with an LLMView Source

Key figures

12.3%1Y

91.5%3Y

111%5Y

Performance

39.0%1Y

31.7%3Y

29.5%5Y

Volatility