Franco-Nevada (FNV)

• Market cap: $32.9B
• 1 day: -0.86%
• 5 days: 4.79%
• 1 month: 11.04%
• 3 months: 36.02%
• 6 months: 34.53%
• Year to date: 41.24%
• 1 year: 42.02%
• 5 years: 37.44%
• 10 years: 247.96%
• Sector: Materials
• Industry: Gold

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

42% more funds holding in top 10

Funds holding in top 10: 12 [Q3] → 17 (+5) [Q4]

2.13% more ownership

Funds ownership: 69.56% [Q3] → 71.69% (+2.13%) [Q4]

2% more repeat investments, than reductions

Existing positions increased: 171 | Existing positions reduced: 167

3% less capital invested

Capital invested by funds: $16.7B [Q3] → $16.2B (-$518M) [Q4]

5% less first-time investments, than exits

New positions opened: 58 | Existing positions closed: 61

2% less funds holding

Funds holding: 481 [Q3] → 472 (-9) [Q4]

38% less call options, than puts

Call options by funds: $78.7M | Put options by funds: $127M

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $152 11% downside
• Avg. target: $174 1% upside
• High target: $190 11% upside

5 analyst ratings

• positive: 3 60%
• neutral: 2 40%
• negative: 0 0%

Scotiabank Tanya Jakusconek 92% 1-year accuracy 24 / 26 met price target	4% downside $165	Sector Perform Maintained	14 Apr 2025
UBS Daniel Major 87% 1-year accuracy 13 / 15 met price target	11% upside $190	Buy Maintained	11 Apr 2025
Raymond James Craig Stanley 100% 1-year accuracy 3 / 3 met price target	6% upside $181	Outperform Maintained	4 Apr 2025
HC Wainwright & Co. Heiko Ihle 57% 1-year accuracy 114 / 199 met price target	5% upside $180	Buy Maintained	26 Mar 2025
TD Securities	11% downside $152	Hold Downgraded	11 Mar 2025