Franco-Nevada Corporation

TSX:FNV Stock Report

Market Cap: CA$59.3b

Franco-Nevada Management

Management criteria checks 4/4

We currently do not have sufficient information about the CEO.

Key information

Paul Brink

Chief executive officer

US$4.2m

Total compensation

CEO salary percentage17.11%
CEO tenure8yrs
CEO ownership0.1%
Management average tenure4.8yrs
Board average tenure6yrs

Recent management updates

Recent updates

Narrative Update • May 04

FNV: Cobre Panama Progress And Commodity Leverage Will Drive Future Upside Potential

The Analyst Price Target for Franco-Nevada has been raised by CA$11.74, with analysts pointing to updated metal price assumptions, stronger projected profit margins near 72.0%, and the stock's leverage to commodity prices as key drivers for the change. Analyst Commentary Recent research updates on Franco-Nevada point to a cluster of higher price targets, with analysts largely focused on metal price assumptions, asset specific developments and the company’s leverage to commodity prices when they think about valuation and execution risk.
Narrative Update • Apr 19

FNV: Cobre Panama Progress And Commodity Leverage Will Shape Balanced Future Outlook

Analysts have lifted Franco-Nevada's CA$ price targets, citing updated metal price forecasts, a continued focus on Cobre Panama and related permits, and the stock's leverage to commodity prices. Together, these factors support a slightly higher fair value and P/E assumption in current models.
Narrative Update • Apr 03

FNV: Cobre Panama Progress And Dividend Policy Will Shape Future Commodity Upside

Analysts have lifted Franco-Nevada's average price target, with several recent CA$20 to CA$75 increases that cite updated commodity price forecasts, Cobre Panama progress and the company's exposure to metal prices as key drivers for the revised outlook. Analyst Commentary Recent Street research on Franco-Nevada points to a wide range of views on how to price the stock, with several firms updating their models after new metal price forecasts, Cobre Panama progress and the latest company results.
Narrative Update • Mar 20

FNV: Cobre Panama Progress And Higher Dividend Will Shape Future Cash Flows

Analysts have raised Franco-Nevada's fair value estimate to CA$393.11 from CA$369.94, reflecting updated views on Cobre Panama progress, transaction opportunities, and leverage to commodity prices that also underpin higher Street price targets. Analyst Commentary Recent research updates on Franco-Nevada point to a mix of optimism and caution as analysts refine their targets around the updated fair value estimate and the latest company developments.
New Narrative • Mar 08

Franco-Nevada Corporation (FNV): The High-Margin Gold Proxy – Anticipating the 2025 Year-End Results.

Franco-Nevada (FNV) remains the premier "gold-focused royalty and streaming" vehicle, trading at $352.86 CAD on the Toronto Stock Exchange as of the March 6, 2026, market close. Headquartered in Toronto, Ontario, the company operates a business model that is the envy of the mining world: it provides upfront capital to miners in exchange for a percentage of future production, allowing it to capture the full upside of rising gold prices without exposure to the crushing operational inflation or labor strikes that plague traditional miners.
Narrative Update • Mar 05

FNV: Metal Price Revisions And Dividend Progress Will Shape Future Cash Flows

The analyst price target for Franco-Nevada has inched up to CA$280 as analysts incorporate updated 2026 metal price forecasts along with revised assumptions for discount rates, revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent research on Franco-Nevada points to a mix of optimism around valuation support from updated metal price forecasts and caution around execution risk and stock positioning.
Narrative Update • Feb 19

FNV: Future Cash Flow Resilience And Dividend Growth Will Temper Valuation Risks

Franco-Nevada's Analyst Price Target has been raised by CA$75 in our model, reflecting a series of recent target hikes from firms such as H.C. Wainwright, Stifel, CIBC, UBS, Scotiabank, and BofA as analysts update their assumptions around revenue growth, profitability, discount rates, and future P/E expectations. Analyst Commentary Recent research has focused on how Franco-Nevada's fundamentals and risk profile stack up against its current valuation, which helps explain the wide range of price target changes across the Street.
Narrative Update • Feb 04

FNV: Future Royalty Cash Flows Will Support Rising Dividend And Metals Sentiment

Analysts have raised their price target for Franco-Nevada by about $13. This reflects updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E, following recent target increases from several firms alongside a downgrade from one broker.
Analysis Article • Jan 29

Franco-Nevada Corporation's (TSE:FNV) Shares Climb 28% But Its Business Is Yet to Catch Up

Despite an already strong run, Franco-Nevada Corporation ( TSE:FNV ) shares have been powering on, with a gain of 28...
Narrative Update • Jan 21

FNV: Future Royalty Cash Flows Will Balance Metals Strength And Sentiment Risks

Analysts have nudged their price targets on Franco-Nevada higher, using an updated fair value framework and making small adjustments to discount rate, revenue growth, profit margin and future P/E assumptions to reflect stronger support from persistently firm precious metals pricing and steady royalty cash flows. Analyst Commentary Recent research on Franco-Nevada reflects a mix of optimism around precious metals exposure and royalty cash flows, alongside some caution tied to sentiment and commodity price volatility.
Narrative Update • Jan 06

FNV: Future Royalty Cash Flows Will Reflect Strong Precious Metal Pricing

The updated analyst price target for Franco-Nevada reflects a modest uplift in fair value to about $346, as analysts balance higher valuation multiples on cash-flowing royalty assets and stronger precious metals pricing with more cautious sentiment linked to recent gold price volatility. Analyst Commentary Recent Street research on Franco-Nevada shows a split view, with some analysts lifting targets and ratings based on royalty asset quality and commodity pricing, while others point to sentiment risk around gold price volatility.
Narrative Update • Dec 15

FNV: Future Royalty Cash Flows Will Benefit From Strong Precious Metal Prices

Analysts have modestly lowered their blended price target on Franco-Nevada by approximately $20 to around $225 per share. This reflects a balance between stronger royalty-driven cash flow potential amid firm commodity prices and heightened market volatility, as well as softer investor sentiment following the recent gold pullback.
Narrative Update • Nov 30

FNV: Rising Precious Metal Prices And New Asset Contributions Will Drive Upside Momentum

The analyst consensus price target for Franco-Nevada has edged higher from approximately $341.26 to $343.38. Analysts cite ongoing strong commodity prices, updated royalty valuations, and continued optimism for key asset contributions as supporting factors behind the modest increase.
Narrative Update • Nov 16

FNV: Ongoing Commodity Price Strength Will Drive Improved Earnings Momentum

Franco-Nevada's analyst price target has shifted modestly, rising from $337.23 to $341.26. Analysts incorporate adjustments for higher profit margins and update expectations based on persistent strength in commodity prices along with evolving market dynamics.
Analysis Article • Nov 10

Franco-Nevada (TSE:FNV) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of

Franco-Nevada Corporation ( TSE:FNV ) announced strong profits, but the stock was stagnant. We did some digging, and we...
Narrative Update • Nov 02

FNV: Precious Metals Rally and Asset Contributions Will Drive Shareholder Value

Analysts have raised Franco-Nevada’s price target from $323.50 to $337.23. They cite anticipated revenue growth, improving profit margins, and recent increases in precious metals prices as key drivers for the upward revision.
Narrative Update • Oct 18

Record Gold Prices And Acquisitions Will Unlock Future Markets

Franco-Nevada’s analyst price target was recently raised from approximately $304 to $323. Analysts cited robust outlooks for metals prices and continued strength in the company’s deal pipeline as supporting factors.
Narrative Update • Oct 04

Record Gold Prices And Acquisitions Will Unlock Future Markets

Franco-Nevada's analyst price target was increased significantly, rising from approximately $285 to $304. Analysts cited robust earnings outperformance and enduring optimism around the company's commodity exposure and deal pipeline.
Narrative Update • Sep 19

Record Gold Prices And Acquisitions Will Unlock Future Markets

Analysts modestly raised Franco-Nevada’s price target to CA$284.81, citing improved financial models and a strong deal pipeline while maintaining a balanced outlook given current sector and commodity conditions. Analyst Commentary Bullish analysts cited updated financial models after the Q2 report, prompting modest price target increases.
Narrative Update • Sep 04

Record Gold Prices And Acquisitions Will Unlock Future Markets

Franco-Nevada’s modest price target increase reflects analyst confidence in the company’s resilient deal pipeline and robust asset quality, resulting in a new consensus analyst price target of CA$279.07. Analyst Commentary Modest upward price target revisions followed the Q2 report and related model updates.
Analysis Article • Aug 14

Franco-Nevada Corporation Just Recorded A 15% EPS Beat: Here's What Analysts Are Forecasting Next

TSX:FNV 1 Year Share Price vs Fair Value Explore Franco-Nevada's Fair Values from the Community and select yours...
Analysis Article • Jul 26

Franco-Nevada (TSE:FNV) Might Have The Makings Of A Multi-Bagger

To find a multi-bagger stock, what are the underlying trends we should look for in a business? In a perfect world, we'd...
Analysis Article • Jul 03

Calculating The Fair Value Of Franco-Nevada Corporation (TSE:FNV)

Key Insights The projected fair value for Franco-Nevada is CA$210 based on 2 Stage Free Cash Flow to Equity...
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New Narrative • Apr 24

Acquisitions And Cobre Panama Mining Projects Will Shape Bright Future

Strategic acquisitions and mine contributions are expected to boost revenue growth and earnings significantly in 2025.

CEO Compensation Analysis

How has Paul Brink's remuneration changed compared to Franco-Nevada's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

US$1b

Dec 31 2025US$4mUS$710k

US$1b

Sep 30 2025n/an/a

US$920m

Jun 30 2025n/an/a

US$785m

Mar 31 2025n/an/a

US$617m

Dec 31 2024US$3mUS$647k

US$552m

Sep 30 2024n/an/a

-US$606m

Jun 30 2024n/an/a

-US$583m

Mar 31 2024n/an/a

-US$478m

Dec 31 2023US$3mUS$679k

-US$466m

Sep 30 2023n/an/a

US$681m

Jun 30 2023n/an/a

US$663m

Mar 31 2023n/an/a

US$675m

Dec 31 2022US$4mUS$665k

US$701m

Sep 30 2022n/an/a

US$757m

Jun 30 2022n/an/a

US$765m

Mar 31 2022n/an/a

US$744m

Dec 31 2021US$4mUS$565k

US$734m

Sep 30 2021n/an/a

US$690m

Jun 30 2021n/an/a

US$677m

Mar 31 2021n/an/a

US$597m

Dec 31 2020US$3mUS$530k

US$326m

Sep 30 2020n/an/a

US$263m

Jun 30 2020n/an/a

US$211m

Mar 31 2020n/an/a

US$180m

Dec 31 2019US$3mUS$481k

US$344m

Compensation vs Market: Paul's total compensation ($USD4.15M) is below average for companies of similar size in the Canadian market ($USD7.97M).

Compensation vs Earnings: Paul's compensation has been consistent with company performance over the past year.

CEO

Paul Brink (57 yo)

8yrs
Tenure
US$4,152,598
Compensation

Mr. Paul Brink serves as Chief Executive Officer and Director of Franco-Nevada Corporation since May 6, 2020 and its President since May 2018. Mr. Brink served as Chief Operating Officer of Franco-Nevada C...

Leadership Team

NamePositionTenureCompensationOwnership
Paul Brink
President8yrsUS$4.15m0.13%
CA$ 79.1m
Sandip Rana
Chief Financial Officer16.1yrsUS$2.32m0.032%
CA$ 18.8m
Eaun Gray
Chief Investment Officer1.2yrsUS$2.08m0.0055%
CA$ 3.3m
Lloyd Hong
Chief Legal Officer & Corporate Secretary5.3yrsUS$2.05m0.0093%
CA$ 5.5m
John Blanchette
President of International4.8yrsUS$544.92k0.0018%
CA$ 1.1m
Pierre Lassonde
Co-Founder & Chair Emeritusno dataUS$109.10kno data
Bonavie Tek
Vice President of Finance & Investor Relationsno datano data0%
CA$ 0
Kevin McElligott
Managing Director of Australiano datano data0%
CA$ 0
Christopher Bell
Vice President of Geology4.8yrsno data0%
CA$ 0
Traci Schweikert
Chief Talent Officerno datano datano data
Candida Hayden
IR Contactno datano datano data
Nalinie Mahon
Vice President of Finance & Operations at International4.8yrsno data0%
CA$ 0
4.8yrs
Average Tenure
52yo
Average Age

Experienced Management: FNV's management team is considered experienced (4.8 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Paul Brink
President6yrsUS$4.15m0.13%
CA$ 79.1m
Pierre Lassonde
Co-Founder & Chair Emeritus6yrsUS$109.10kno data
David Harquail
Chair Emeritusno dataUS$292.58k0.40%
CA$ 236.9m
Derek Evans
Independent Director17.8yrsUS$287.44k0.0078%
CA$ 4.6m
Hugo Dryland
Independent Director2yrsUS$223.42k0.00042%
CA$ 248.9k
Thomas Albanese
Independent Non-Executive Chairman of the Board12.8yrsUS$273.61k0.025%
CA$ 14.6m
Maureen Jensen
Independent Director6yrsUS$240.88kno data
Jacques Perron
Independent Director3.5yrsUS$228.16k0.00052%
CA$ 308.1k
Catharine E. Farrow
Independent Director11yrsUS$246.04k0.00016%
CA$ 94.8k
Jennifer Maki
Independent Director7yrsUS$248.03k0.000050%
CA$ 29.6k
Daniel Malchuk
Independent Director1.3yrsUS$217.30kno data
6.0yrs
Average Tenure
68yo
Average Age

Experienced Board: FNV's board of directors are considered experienced (6 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/20 12:22
End of Day Share Price 2026/05/20 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Franco-Nevada Corporation is covered by 31 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Harriet LiAccountability Research Corporation
Farooq HamedBarclays
Matthew MurphyBMO Capital Markets Equity Research