Scotiabank Raises its Price Target on Franco-Nevada (FNV)

Franco-Nevada Corporation (NYSE:FNV) is one of the

10 Best Low Leverage Stocks to Buy.

On May 14, 2026, Scotiabank raised the firm’s price target on Franco-Nevada Corporation (NYSE:FNV) to $290 from $286 while maintaining a Sector Perform rating on the shares. The firm said it updated its model following the company’s Q1 results.

Meanwhile, National Bank analyst Shane Nagle upgraded Franco-Nevada Corporation (NYSE:FNV) to Outperform from Sector Perform with a C$420 price target.

On May 12, 2026, Franco-Nevada Corporation (NYSE:FNV) reported Q1 EPS of $2.38, versus the consensus estimate of $2.08. Revenue totaled $650.7M, compared to the consensus estimate of $635.3M. David Harquail reflected on nearly four decades in the gold royalty business, describing Franco-Nevada as a lower-risk gold investment model supported by a strong balance sheet and insulation from inflationary pressures. Harquail also highlighted the company’s long-term shareholder returns and confidence in the management team and board to continue delivering dividends over time.

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The company said it remains on track to achieve its FY26 GEO sales guidance of 510,000 to 570,000 ounces, excluding any potential contributions from Cobre Panama. Franco-Nevada added that while the recent approval to process stockpiled ore at Cobre Panama is expected to provide some benefit in 2026, most related deliveries are anticipated in 2027. Based on estimates from First Quantum Minerals, the processing of stockpiled ore could result in stream deliveries to Franco-Nevada of approximately 23,100 gold ounces and 265,000 silver ounces. The company also noted that its royalty and streaming structure provides insulation from rising oil prices, though elevated energy prices could still positively impact its Energy revenue segment. Franco-Nevada said a $10 increase in WTI oil prices above its assumed $70 per barrel level would be expected to increase oil revenue by approximately 12%.

Franco-Nevada Corporation (NYSE:FNV) operates as a royalty and streaming company focused primarily on precious metals assets across multiple global regions.

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