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FNV

Franco-Nevada Corporation

NYSE: FNV · BASIC MATERIALS · GOLD

$230.34
+0.80% today

Updated 2026-04-30

Market cap
$44.81B
P/E ratio
40.35
P/S ratio
24.84x
EPS (TTM)
$5.76
Dividend yield
0.63%
52W range
$152 – $285
Volume
0.8M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Franco-Nevada Corporation (FNV) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$230.34
Consensus
$248.00
+7.67%
2030 Target
$386.61
+67.84%
DCF
$166.31
-54.95% MoS
14 analysts:
5 Buy3 Hold0 Sell

Management guidance

Franco-Nevada reported record 2025 results with revenue of $1.82B (63.7% YoY growth). Management provided strong 2026 and 2030 GEO (Gold Equivalent Ounces) guidance, highlighting significant organic growth potential and upside from Cobre Panama restart. CEO emphasized achieving top-end of guidance with 64% revenue growth in 2025, positioning for continued expansion through portfolio growth and new production ramps.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$644.35
$6.2B Rev × 20x P/S
Base case (2030)
$386.61
$6.2B Rev × 12x P/S
Bear case (2030)
$257.74
$6.2B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$1.2B$1.1B$1.9B$2.8B$3.4B$4.1B$5.0B$6.2B
Revenue growth—-8.6%66.4%52.2%21.8%22.4%23.2%22.8%
EPS$3.55$3.26$5.59$8.46$9.85$11.50$13.80$16.50
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$180.42$206.19$257.74$309.29$386.61

Catalysts & risks

Growth catalysts
+ Cobre Panama mine restart completion (major production ramp)
+ Bullabulling Gold Project financing ($220M) - new production stream starting 2027-2028
+ i-80 Gold royalty investments ($250M) driving future production growth
+ Portfolio expansion with new royalties (Arthur Gold Project $250M acquisition)
+ Continued high gold/silver prices supporting strong cash flow and reinvestment
+ April 8, 2026 Investor Day detailing 2026-2030 growth strategy
Key risks
- Gold and silver price volatility impacting revenue (40-60% of revenue from commodity prices)
- Cobre Panama restart delays or operational challenges
- Mining jurisdiction risks across portfolio (Panama, Nevada, Mexico, Canada)
- High valuation (44.8x P/E, 27.6x P/S) limits upside if growth disappoints
- Geopolitical tensions affecting precious metal demand and mining operations

Methodology

Franco-Nevada Corporation's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 14 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.