#5 - Franco-Nevada (NYSE:FNV)
Franco-Nevada Corp. (NYSE: FNV) is a different way to invest in mining stocks. That is, instead of investing directly into a miner, you’re investing in a company that invests in mining companies. The Canadian-based company has a diversified portfolio of mining stocks. However, in 2024, about 75% of the company’s revenue is coming from its interest in gold and precious metal miners.
The benefit to this approach is that the company doesn’t have the capital and operating costs that miners endure. And the company still benefits when these companies' complete expansion and exploration projects. The company has used this cash flow to keep its balance sheet free of debt which allows it to invest in more growth opportunities.
FNV stock is up 21% in 2024, and analysts have a price target of $152 on the stock, which suggests there could be a 12.4% upside for investors. The company also has a growing dividend with a yield of 1.04%.
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
- $113.95
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 5 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $156.57 (37.4% Upside)
