Buy Or Sell Opportunity • Jul 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to €181. The fair value is estimated to be €229, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 43%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Announcement • Jun 17
Franco-Nevada Corporation Announces Local Court Decision Purporting to Nullify Stream Agreement Related to Karma Mine Franco-Nevada Corporation has been aware of a news release issued by Riverstone Karma SA announcing a local court decision in Burkina Faso purporting to nullify the stream agreement related to the Karma Mine. The stream agreement is governed by Ontario law. Franco-Nevada believes the Burkina Faso judgement is not valid and is seeking to have the judgement vacated. Franco-Nevada is also pursuing its own legal remedies in Ontario and elsewhere in accordance with the dispute resolution provisions in the agreement against Riverstone Karma SA, its parent Néré Mining SA and other relevant affiliates to protect its legal rights. Upcoming Dividend • Jun 04
Upcoming dividend of US$0.44 per share Eligible shareholders must have bought the stock before 11 June 2026. Payment date: 25 June 2026. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (1.3%). Declared Dividend • May 20
First quarter dividend of US$0.44 announced Shareholders will receive a dividend of US$0.44. Ex-date: 11th June 2026 Payment date: 25th June 2026 Dividend yield will be 0.8%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (22% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 14
Franco-Nevada Corporation Declares Quarterly Dividend, Payable on June 25, 2026 Franco-Nevada announced that its Board of Directors has declared a quarterly dividend of USD 0.44 per share. The dividend will be paid on June 25, 2026, to shareholders of record on June 11, 2026 (the "Record Date"). The dividend has been declared in U.S. dollars and the Canadian dollar equivalent will be determined based on the daily average rate posted by the Bank of Canada on the Record Date. Under Canadian tax legislation, Canadian resident individuals who receive "eligible dividends" are entitled to an enhanced gross-up and dividend tax credit on such dividends. Announcement • Apr 22
Franco-Nevada Corporation to Report Q1, 2026 Results on May 12, 2026 Franco-Nevada Corporation announced that they will report Q1, 2026 results at 5:00 PM, US Eastern Standard Time on May 12, 2026 Announcement • Mar 11
Franco-Nevada Corporation Provides Earnings Guidance for the Full Year of 2026 Franco-Nevada Corporation provided earnings guidance for the full year of 2026 . For the year, the company expects Precious Metal GEO sales of 360,000 GEOs to 400,000 GEOs. Total GEO sales of 510,000 to 570,000 GEOs. 2026 diversified revenue to be in range of $245 Million to $285 million. Announcement • Feb 17
Franco-Nevada Corporation, Annual General Meeting, May 12, 2026 Franco-Nevada Corporation, Annual General Meeting, May 12, 2026. Location: ontario, toronto Canada Announcement • Jan 29
Franco-Nevada Corporation to Report Fiscal Year 2025 Results on Mar 10, 2026 Franco-Nevada Corporation announced that they will report fiscal year 2025 results After-Market on Mar 10, 2026 Announcement • Oct 07
Franco-Nevada Corporation to Report Q3, 2025 Results on Nov 03, 2025 Franco-Nevada Corporation announced that they will report Q3, 2025 results After-Market on Nov 03, 2025 Announcement • Aug 12
Franco-Nevada Corporation Declares Quarterly Dividend, Payable on September 25, 2025 Franco-Nevada Corporation announced that its Board of Directors has declared a quarterly dividend of USD 0.38 per share. The dividend will be paid on September 25, 2025, to shareholders of record on September 11, 2025 (the "Record Date"). Announcement • Jul 11
Franco-Nevada Corporation to Report Q2, 2025 Results on Aug 11, 2025 Franco-Nevada Corporation announced that they will report Q2, 2025 results Pre-Market on Aug 11, 2025 Announcement • Apr 15
Franco-Nevada Corporation to Report Q1, 2025 Results on May 08, 2025 Franco-Nevada Corporation announced that they will report Q1, 2025 results at 5:30 PM, US Eastern Standard Time on May 08, 2025 Announcement • Mar 10
Franco-Nevada Corporation Provides Revenue Guidance for the Full Year of 2025 Franco-Nevada Corporation provided revenue guidance for the full year of 2025. For the year, the company expects Precious Metal GEO sales of 385,000 to 425,000 GEOs. Total GEO sales of 465,000 to 525,000 GEOs. 2025 revenue to be more than 25% higher than in 2024. Announcement • Feb 11
Franco-Nevada Corporation, Annual General Meeting, May 08, 2025 Franco-Nevada Corporation, Annual General Meeting, May 08, 2025. Location: ontario, toronto Canada Announcement • Jan 30
Franco-Nevada Corporation to Report Fiscal Year 2024 Results on Mar 10, 2025 Franco-Nevada Corporation announced that they will report fiscal year 2024 results Pre-Market on Mar 10, 2025 Announcement • Jan 08
Franco-Nevada Appoints Daniel Malchuk as Director Franco-Nevada announced that Daniel Malchuk has joined its board of directors, effective January 8, 2024. Mr. Malchuk brings over 30 years of strategic, operational and financial experience in the natural resource industry to the board. He currently serves as a director of SSR Mining Inc. and also serves as Senior Advisor with Appian Capital Advisory LLP and chairman of Jetti Resources LLC. Previously, Mr. Malchuk held various leadership positions with BHP Group Ltd. until his retirement in 2020 including President Operations, Minerals Americas, President of Copper, President of Aluminum, Manganese, and Nickel, President, Minerals Exploration and Vice President, Strategy and Development. Mr. Malchuk holds a Civil Industrial Engineer degree from Universidad de Chile and an MBA from University of California at Los Angeles (UCLA) Anderson School of Management. Declared Dividend • Nov 11
Third quarter dividend of US$0.36 announced Shareholders will receive a dividend of US$0.36. Ex-date: 5th December 2024 Payment date: 19th December 2024 Dividend yield will be 1.2%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (70% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: US$0.79 (vs US$0.91 in 3Q 2023) Third quarter 2024 results: EPS: US$0.79 (down from US$0.91 in 3Q 2023). Revenue: US$275.7m (down 11% from 3Q 2023). Net income: US$152.7m (down 13% from 3Q 2023). Profit margin: 55% (down from 57% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Sep 05
Upcoming dividend of US$0.36 per share Eligible shareholders must have bought the stock before 12 September 2024. Payment date: 26 September 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.4%). Declared Dividend • Aug 19
Second quarter dividend of US$0.36 announced Shareholders will receive a dividend of US$0.36. Ex-date: 12th September 2024 Payment date: 26th September 2024 Dividend yield will be 1.2%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (57% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: US$0.41 (vs US$0.96 in 2Q 2023) Second quarter 2024 results: EPS: US$0.41 (down from US$0.96 in 2Q 2023). Revenue: US$260.1m (down 21% from 2Q 2023). Net income: US$79.5m (down 57% from 2Q 2023). Profit margin: 31% (down from 56% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Aug 10
Now 23% overvalued Over the last 90 days, the stock has fallen 8.1% to €111. The fair value is estimated to be €90.25, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Announcement • Jul 17
Franco-Nevada Corporation to Report Q2, 2024 Results on Aug 13, 2024 Franco-Nevada Corporation announced that they will report Q2, 2024 results After-Market on Aug 13, 2024 Upcoming Dividend • Jun 06
Upcoming dividend of US$0.36 per share Eligible shareholders must have bought the stock before 13 June 2024. Payment date: 27 June 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (3.8%). Declared Dividend • May 06
First quarter dividend of US$0.36 announced Shareholders will receive a dividend of US$0.36. Ex-date: 13th June 2024 Payment date: 27th June 2024 Dividend yield will be 1.2%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (68% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Board Change • May 05
High number of new directors Independent Director Hugo Dryland was the last director to join the board, commencing their role in the last week. Reported Earnings • May 02
First quarter 2024 earnings released: EPS: US$0.75 (vs US$0.82 in 1Q 2023) First quarter 2024 results: EPS: US$0.75 (down from US$0.82 in 1Q 2023). Revenue: US$256.8m (down 6.9% from 1Q 2023). Net income: US$144.5m (down 7.7% from 1Q 2023). Profit margin: 56% (in line with 1Q 2023). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Apr 19
Franco-Nevada Corporation to Report Q1, 2024 Results on May 01, 2024 Franco-Nevada Corporation announced that they will report Q1, 2024 results After-Market on May 01, 2024 Reported Earnings • Mar 06
Full year 2023 earnings released: US$2.43 loss per share (vs US$3.66 profit in FY 2022) Full year 2023 results: US$2.43 loss per share (down from US$3.66 profit in FY 2022). Revenue: US$1.22b (down 7.2% from FY 2022). Net loss: US$466.4m (down 167% from profit in FY 2022). Revenue is forecast to stay flat during the next 3 years compared to a 1.0% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 06
Upcoming dividend of US$0.36 per share Eligible shareholders must have bought the stock before 13 March 2024. Payment date: 28 March 2024. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (4.4%). Announcement • Feb 11
Franco-Nevada Corporation, Annual General Meeting, May 01, 2024 Franco-Nevada Corporation, Annual General Meeting, May 01, 2024. New Risk • Feb 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Declared Dividend • Feb 05
Third quarter dividend of US$0.36 announced Shareholders will receive a dividend of US$0.36. Ex-date: 13th March 2024 Payment date: 28th March 2024 Dividend yield will be 1.3%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by both earnings (38% earnings payout ratio) and cash flows (64% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to remain steady over the next 2 years, which should provide adequate earnings cover for the dividend. Announcement • Feb 01
Franco-Nevada Corporation Declares Quarterly Dividend, Payable on March 28, 2024 Franco-Nevada Corporation announced that its Board of Directors has raised its quarterly dividend and declared a quarterly dividend of USD 0.36 per share payable on March 28, 2024 to shareholders of record on March 14, 2024 (the “Record Date”). The increased dividend will be effective for the full 2024 fiscal year. This is a 5.88% increase from the previous USD 0.34 per share quarterly dividend and marks the 17th consecutive annual increase for Franco-Nevada shareholders. Announcement • Jan 31
Franco-Nevada Corporation to Report Fiscal Year 2023 Results on Mar 05, 2024 Franco-Nevada Corporation announced that they will report fiscal year 2023 results After-Market on Mar 05, 2024 Upcoming Dividend • Nov 29
Upcoming dividend of US$0.34 per share at 1.2% yield Eligible shareholders must have bought the stock before 06 December 2023. Payment date: 21 December 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (8.4%). Announcement • Nov 10
Franco-Nevada Corporation Declares Quarterly Dividend, Payable on December 21, 2023 Franco-Nevada announced that its Board of Directors has declared a quarterly dividend of USD 0.34 per share. The dividend will be paid on December 21, 2023, to shareholders of record on December 7, 2023. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: US$0.91 (vs US$0.82 in 3Q 2022) Third quarter 2023 results: EPS: US$0.91 (up from US$0.82 in 3Q 2022). Revenue: US$309.5m (up 1.9% from 3Q 2022). Net income: US$175.1m (up 12% from 3Q 2022). Profit margin: 57% (up from 52% in 3Q 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Oct 11
Franco-Nevada Corporation to Report Q3, 2023 Results on Nov 08, 2023 Franco-Nevada Corporation announced that they will report Q3, 2023 results After-Market on Nov 08, 2023 Upcoming Dividend • Sep 06
Upcoming dividend of US$0.34 per share at 1.0% yield Eligible shareholders must have bought the stock before 13 September 2023. Payment date: 28 September 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (8.8%). Announcement • Aug 10
Franco-Nevada Corporation Declares Quarterly Dividend, Payable on September 28, 2023 Franco-Nevada Corporation announced that its Board of Directors has declared a quarterly dividend of $0.34 per share. The dividend will be paid on September 28, 2023 to shareholders of record on September 14, 2023. Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: US$0.96 (vs US$1.03 in 2Q 2022) Second quarter 2023 results: EPS: US$0.96 (down from US$1.03 in 2Q 2022). Revenue: US$329.9m (down 6.3% from 2Q 2022). Net income: US$184.5m (down 6.1% from 2Q 2022). Profit margin: 56% (in line with 2Q 2022). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Jul 08
Franco-Nevada Corporation to Report Q2, 2023 Results on Aug 08, 2023 Franco-Nevada Corporation announced that they will report Q2, 2023 results After-Market on Aug 08, 2023 Upcoming Dividend • Jun 07
Upcoming dividend of US$0.34 per share at 0.9% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (8.8%). Board Change • Jun 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. Independent Honorary Director David Peterson was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 03
First quarter 2023 earnings released: EPS: US$0.82 (vs US$0.95 in 1Q 2022) First quarter 2023 results: EPS: US$0.82 (down from US$0.95 in 1Q 2022). Revenue: US$276.3m (down 18% from 1Q 2022). Net income: US$156.5m (down 14% from 1Q 2022). Profit margin: 57% (up from 54% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 1.2% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Mar 24
Non-Executive Chair recently sold €365k worth of stock On the 20th of March, David Harquail sold around 3k shares on-market at roughly €135 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. David has been a net seller over the last 12 months, reducing personal holdings by €6.0m. Reported Earnings • Mar 17
Full year 2022 earnings released: EPS: US$3.66 (vs US$3.84 in FY 2021) Full year 2022 results: EPS: US$3.66 (down from US$3.84 in FY 2021). Revenue: US$1.32b (up 1.4% from FY 2021). Net income: US$700.6m (down 4.5% from FY 2021). Profit margin: 53% (down from 56% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 1.0% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 08
Upcoming dividend of US$0.34 per share at 1.0% yield Eligible shareholders must have bought the stock before 15 March 2023. Payment date: 30 March 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (8.2%). Recent Insider Transactions • Dec 11
Non-Executive Chair recently sold €2.8m worth of stock On the 8th of December, David Harquail sold around 20k shares on-market at roughly €136 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. David has been a net seller over the last 12 months, reducing personal holdings by €5.6m. Upcoming Dividend • Nov 30
Upcoming dividend of US$0.32 per share Eligible shareholders must have bought the stock before 07 December 2022. Payment date: 22 December 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (8.6%). Recent Insider Transactions • Nov 26
Independent Director recently sold €2.7m worth of stock On the 23rd of November, Thomas Albanese sold around 20k shares on-market at roughly €137 per share. This transaction amounted to 41% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €6.1m more than they bought in the last 12 months. Reported Earnings • Nov 08
Third quarter 2022 earnings released: EPS: US$0.82 (vs US$0.87 in 3Q 2021) Third quarter 2022 results: EPS: US$0.82 (down from US$0.87 in 3Q 2021). Revenue: US$304.2m (down 3.7% from 3Q 2021). Net income: US$157.1m (down 5.4% from 3Q 2021). Profit margin: 52% (down from 53% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 3.3% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 07
Upcoming dividend of US$0.32 per share Eligible shareholders must have bought the stock before 14 September 2022. Payment date: 29 September 2022. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (10%). Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: US$1.03 (vs US$0.92 in 2Q 2021) Second quarter 2022 results: EPS: US$1.03 (up from US$0.92 in 2Q 2021). Revenue: US$351.9m (up 1.5% from 2Q 2021). Net income: US$196.5m (up 12% from 2Q 2021). Profit margin: 56% (up from 51% in 2Q 2021). The increase in margin was primarily driven by lower expenses. Over the next year, revenue is forecast to grow 1.4%, compared to a 20% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 08
Upcoming dividend of US$0.32 per share Eligible shareholders must have bought the stock before 15 June 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (7.3%). Reported Earnings • May 06
First quarter 2022 earnings released: EPS: US$0.95 (vs US$0.90 in 1Q 2021) First quarter 2022 results: EPS: US$0.95 (up from US$0.90 in 1Q 2021). Revenue: US$338.8m (up 9.9% from 1Q 2021). Net income: US$182.0m (up 6.1% from 1Q 2021). Profit margin: 54% (down from 56% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 3.4%, compared to a 33% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Co-Founder & Chair Emeritus Pierre Lassonde was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Apr 03
Non-Executive Chair recently sold €2.9m worth of stock On the 30th of March, David Harquail sold around 20k shares on-market at roughly €145 per share. This was the largest sale by an insider in the last 3 months. David has been a seller over the last 12 months, reducing personal holdings by €3.5m. Reported Earnings • Mar 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$3.84 (up from US$1.71 in FY 2020). Revenue: US$1.30b (up 28% from FY 2020). Net income: US$733.7m (up 125% from FY 2020). Profit margin: 56% (up from 32% in FY 2020). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 2.0%, compared to a 26% growth forecast for the mining industry in Germany. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 09
Upcoming dividend of US$0.32 per share Eligible shareholders must have bought the stock before 16 March 2022. Payment date: 31 March 2022. Payout ratio is a comfortable 31% but the company is paying out more than the cash it is generating. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (9.2%). Recent Insider Transactions • Dec 17
Insider recently sold €444k worth of stock On the 13th of December, Lloyd Hong sold around 4k shares on-market at roughly €118 per share. In the last 3 months, there was an even bigger sale from another insider worth €643k. Insiders have been net sellers, collectively disposing of €1.0m more than they bought in the last 12 months. Upcoming Dividend • Dec 01
Upcoming dividend of US$0.30 per share Eligible shareholders must have bought the stock before 08 December 2021. Payment date: 23 December 2021. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (3.4%). Lower than average of industry peers (7.9%). Recent Insider Transactions • Nov 20
Non-Executive Chair recently sold €643k worth of stock On the 18th of November, David Harquail sold around 5k shares on-market at roughly €129 per share. This was the largest sale by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS US$0.87 (vs US$0.81 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: US$316.3m (up 13% from 3Q 2020). Net income: US$166.0m (up 7.9% from 3Q 2020). Profit margin: 53% (down from 55% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Sep 30
Insider recently bought €84k worth of stock On the 27th of September, Adrian Wong bought around 750 shares on-market at roughly €111 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €70k more in shares than they have sold in the last 12 months. Upcoming Dividend • Sep 08
Upcoming dividend of US$0.30 per share Eligible shareholders must have bought the stock before 15 September 2021. Payment date: 30 September 2021. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (6.4%). Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS US$0.92 (vs US$0.50 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$347.1m (up 78% from 2Q 2020). Net income: US$175.3m (up 86% from 2Q 2020). Profit margin: 51% (up from 49% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 02
Upcoming dividend of US$0.30 per share Eligible shareholders must have bought the stock before 09 June 2021. Payment date: 24 June 2021. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (4.4%). Reported Earnings • May 11
First quarter 2021 earnings released: EPS US$0.90 (vs US$0.52 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$308.3m (up 29% from 1Q 2020). Net income: US$171.5m (up US$270.3m from 1Q 2020). Profit margin: 56% (up from net loss in 1Q 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 27% per year. Executive Departure • May 10
Independent Director has left the company On the 5th of May, David Peterson's tenure as Independent Director ended after 13.5 years in the role. We don't have any record of a personal shareholding under David's name. David is the only executive to leave the company over the last 12 months. Announcement • May 06
Franco-Nevada Corporation Declares Quarterly Dividend, Payable on June 24, 2021 Franco-Nevada announce that its Board of Directors has declared a quarterly dividend of $0.30 per share as had been previously announced. The dividend will be a 15.4% increase from the previous $0.26 per share quarterly dividend and will mark the 14th consecutive annual dividend increase for Franco-Nevada shareholders. The dividend will be paid on June 24, 2021 to shareholders of record on June 10, 2021. Announcement • Apr 20
Franco-Nevada Corporation Revises Revenue Guidance for 2021 Franco-Nevada Corporation revises revenue guidance for 2021. Reflecting the acquisition of the Royalty Debentures, the company expects attributable royalty and stream sales in 2021 to total 580,000 to 615,000 GEOs from Mining assets, an increase from 555,000 to 585,000 GEOs previously, and additional revenue of $115 million to $135 million from Energy assets. For 2021 guidance, silver, platinum, palladium and iron ore prices have been converted to GEOs using commodity prices of $1,750/oz Au, $25.00/oz Ag, $1,100/oz Pt, $2,200/oz Pd and $150/t Fe 65%. The WTI oil price and Henry Hub natural gas price are assumed to average $55 per barrel and $2.50 per mcf. The company estimate depletion expense to be $265 to $300 million. Reported Earnings • Mar 13
Full year 2020 earnings released: EPS US$1.71 (vs US$1.83 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: US$1.02b (up 21% from FY 2019). Net income: US$326.2m (down 5.2% from FY 2019). Profit margin: 32% (down from 41% in FY 2019). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Mar 13
Revenue beats expectations Revenue exceeded analyst estimates by 3.7%. Over the next year, revenue is forecast to grow 17%, compared to a 21% growth forecast for the Metals and Mining industry in Germany. Upcoming Dividend • Mar 03
Upcoming Dividend of US$0.26 Per Share Will be paid on the 25th of March to those who are registered shareholders by the 10th of March. The trailing yield of 0.9% is below the top quartile of German dividend payers (3.4%), and is lower than industry peers (4.3%). Is New 90 Day High Low • Feb 18
New 90-day low: €95.30 The company is down 13% from its price of €109 on 20 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 71% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €67.71 per share. Announcement • Feb 13
Franco-Nevada Corporation, Annual General Meeting, May 05, 2021 Franco-Nevada Corporation, Annual General Meeting, May 05, 2021. Announcement • Feb 11
Franco-Nevada Corporation to Report Fiscal Year 2020 Results on Mar 10, 2021 Franco-Nevada Corporation announced that they will report fiscal year 2020 results After-Market on Mar 10, 2021 Is New 90 Day High Low • Jan 15
New 90-day low: €101 The company is down 16% from its price of €120 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 52% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €65.27 per share. Is New 90 Day High Low • Dec 24
New 90-day low: €105 The company is down 11% from its price of €119 on 25 September 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 43% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €66.04 per share. Recent Insider Transactions • Dec 20
Insider recently sold €8.0k worth of stock On the 17th of December, Jeff Jenkins sold around 72.0 shares on-market at roughly €111 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €31m more than they bought in the last 12 months. Upcoming Dividend • Nov 25
Upcoming Dividend of US$0.26 Per Share Will be paid on the 17th of December to those who are registered shareholders by the 2nd of December. The trailing yield of 0.8% is below the top quartile of German dividend payers (3.7%), and is lower than industry peers (5.3%). Is New 90 Day High Low • Nov 19
New 90-day low: €110 The company is down 12% from its price of €125 on 20 August 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €61.19 per share. Analyst Estimate Surprise Post Earnings • Nov 06
Revenue beats expectations Revenue exceeded analyst estimates by 13%. Over the next year, revenue is forecast to grow 22%, compared to a 8.4% growth forecast for the Metals and Mining industry in Germany. Reported Earnings • Nov 06
Third quarter 2020 earnings released: EPS US$0.81 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$279.8m (up 19% from 3Q 2019). Net income: US$153.9m (up 52% from 3Q 2019). Profit margin: 55% (up from 43% in 3Q 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Oct 29
New 90-day low: €113 The company is down 15% from its price of €133 on 30 July 2020. The German market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €61.53 per share. Is New 90 Day High Low • Sep 24
New 90-day low: €117 The company is down 3.0% from its price of €122 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €59.13 per share. Announcement • Sep 13
Franco-Nevada Corporation to Report Q3, 2020 Results on Nov 04, 2020 Franco-Nevada Corporation announced that they will report Q3, 2020 results at 5:00 PM, Eastern Standard Time on Nov 04, 2020 Announcement • Jul 17
Franco-Nevada Corporation to Report Q2, 2020 Results on Aug 05, 2020 Franco-Nevada Corporation announced that they will report Q2, 2020 results at 5:00 PM, Eastern Standard Time on Aug 05, 2020 
