#5 - Franco-Nevada Corporation (NYSE:FNV)
The last of the large-cap stocks on this list is another gold streaming company. Franco-Nevada Corporation (NYSE: FNV) is headquartered in Toronto, Canada. Although the company has a diversified portfolio of precious metals, iron ore and oil and gas companies, it still generated 55% of its revenues from gold in 2022.
From a fundamental perspective, Franco-Nevada has no debt on its balance sheet, a fact that sets it apart from many companies in the mining industry. That along with the company’s streaming model has allowed it to pay a dividend every year since the company went public in 2008.
The company beat expectations on the top and bottom lines in its fourth quarter 2022 earnings report. And the company is expected to show year-over-year earnings growth in 2023. Analysts give FNV stock a Hold rating and suggest that the stock is at the top end of its projected growth. That being said, Raymond James reiterated its rating for the stock and while it lowered its price target it still has a $157 price target which would be a gain of almost 10% from its current level.
About Franco-Nevada
Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.
Read More - Current Price
- $116.21
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $145.33 (25.1% Upside)
