Welcome to our dedicated page for Franco-Nevada Corporation news (Ticker: FNV), a resource for investors and traders seeking the latest updates and insights on Franco-Nevada Corporation stock.
Franco-Nevada Corporation (symbol: FNV) is a premier gold-focused royalty and streaming company. Based out of Toronto, Canada, Franco-Nevada boasts the largest and most diversified portfolio of cash-flow-producing assets within the industry. Unlike traditional mining companies, Franco-Nevada does not engage in the operation of mines, development projects, or exploration. Instead, the company generates revenue primarily through royalties and streams from a wide range of precious metals, including gold, silver, and platinum, as well as interests in oil & gas.
Currently, the company holds assets diversified by commodity, revenue type, and project stage, with significant holdings primarily located in the U.S., Canada, and Australia. The company's unique business model provides investors with exposure to gold prices and exploration potential while minimizing risks associated with cost inflation. Franco-Nevada is known for its strong financial position, being debt-free and continually growing its cash balances. This financial prudence allows the company to regularly pay dividends and expand its portfolio strategically.
Recent achievements include an increase in gold equivalent ounces (GEOs) sold from its precious metal assets, notably from projects like Cobre Panama, Guadalupe-Palmarejo, and MWS. In Q3 2023, Franco-Nevada reported revenues of $309.5 million, up 1.7% from the same period in the previous year. The company's precious metal revenue accounted for 77.8% of its total revenue, with gold alone constituting 64.5%.
Franco-Nevada remains at the forefront of Environmental, Social, and Governance (ESG) initiatives. The company consistently ranks highly with leading ESG rating agencies and has been proactive in expanding its diversity scholarship programs and supporting industry initiatives. The revised mining concession contract for the Cobre Panama mine is one of the significant developments, although it faces a series of legal challenges and public scrutiny. Despite these challenges, production at Cobre Panama remains uninterrupted, and Franco-Nevada continues to closely monitor the situation.
Additionally, Franco-Nevada has a Dividend Reinvestment Plan (DRIP) allowing shareholders to reinvest dividends for additional common shares at a slight discount. The company's robust cash flow and lack of debt underscore its capacity to manage such programs while maintaining financial stability.
In summary, Franco-Nevada Corporation represents a stable and growth-oriented investment in the precious metals sector, providing shareholders with exposure to gold and other commodities while maintaining financial health and ESG leadership.
Franco-Nevada (FNV) has announced a $500 million precious metals stream agreement with Sibanye-Stillwater, focusing on their Marikana, Rustenburg, and Kroondal mining operations in South Africa's Bushveld Complex. The stream comprises a life-of-mine gold component and a 25-year platinum component, expected to deliver a stable gold equivalent ounce profile.
The agreement includes gold deliveries of 1.1% of 4E PGM ounces until 87.5 koz, then 0.75% until 237 koz, followed by 80% of gold contained in concentrate for the remaining life of mine. For platinum, the stream includes 1.0% until 48 koz, stepping up to 2.1% until 294 koz.
The stream will be effective from September 1, 2024, with first delivery expected 45 days after closing. The operations currently provide approximately 15% of global platinum supply and benefit from extensive infrastructure and resources.
Franco-Nevada reported Q3 2024 results with revenue of $275.7 million, down 11% year-over-year, primarily due to Cobre Panama's inactive status. The company sold 110,110 GEOs, a 32% decrease from Q3 2023. Net income was $152.7 million ($0.79/share). Notable developments include initial contributions from the newly commissioned Tocantinzinho mine, increased contributions from Greenstone mine, and the newly acquired Yanacocha royalty. The company maintains a strong financial position with no debt and $2.3 billion in available capital. Due to lower gold production at Candelaria and slower mine ramp-ups, Franco-Nevada revised its 2024 guidance to 445,000-465,000 total GEOs.
Franco-Nevada (FNV) has announced the release date for its third quarter 2024 financial results. The company will report its results on November 6th, 2024, after market close. A conference call and webcast to discuss the results will be held on November 7th, 2024, at 8:00 am ET.
Interested parties can access the conference call via toll-free number 1-888-510-2154 or international number 437-900-0527. A webcast will also be available on the company's website. For those unable to attend live, a replay will be accessible until November 14th using specific dial-in numbers and passcode.
This announcement provides investors and analysts with the necessary information to participate in the upcoming earnings call and stay informed about Franco-Nevada's financial performance.
Franco-Nevada reported Q2 2024 results highlighting a decrease in key metrics year-over-year. Despite record gold prices, revenue dropped by 21% to $260.1 million, and operating cash flow declined by 26% to $194.4 million due to lower production at Candelaria, Antapaccay, and the absence of Cobre Panama. Adjusted EBITDA also fell by 20% to $221.9 million. The company recorded a 57% drop in net income to $79.5 million, impacted by a $69.8 million increase in tax expenses due to the Global Minimum Tax initiative.
Franco-Nevada made significant portfolio additions, including a gold stream on SolGold's Cascabel project in Ecuador and a royalty on Newmont's Yanacocha operations in Peru. The company expects stronger contributions from new mines in H2 2024, although it anticipates being at the lower end of its GEO sales guidance range for 2024.
The company maintains a strong financial position with no debt and $2.4 billion in available capital. ESG commitments and community initiatives are also emphasized.
Franco-Nevada (TSX: FNV) (NYSE: FNV) has announced the acquisition of a 1.8% net smelter return royalty on Newmont 's Yanacocha mine and adjacent properties in Peru. The transaction involves a $210 million cash payment and a contingent payment of $15 million in Franco-Nevada common shares. The royalty covers current oxide production, the planned sulfide project, and growth projects including Conga, potentially adding decades of contributions to Franco-Nevada.
Key highlights:
- Immediate cash flow from Yanacocha's current production
- Coverage of the Yanacocha Sulfides Project with significant reserves
- Long-term optionality from the Conga project and other resources
- Exploration potential across a large land package of over 750 km²
The acquisition aligns with Franco-Nevada's strategy as a leading gold-focused royalty and streaming company, enhancing its portfolio and potential for future growth.
Franco-Nevada (FNV) has announced the release date for its second quarter 2024 financial results. The company will report its Q2 2024 results on August 13, 2024, after market close. A conference call and webcast to discuss the results are scheduled for August 14, 2024, at 8:00 am ET. Investors and analysts can participate via toll-free and international dial-in numbers or through a webcast available on the company's website. A replay of the call will be accessible until August 21, 2024. This announcement provides transparency and allows stakeholders to prepare for the upcoming financial disclosure.
Franco-Nevada (TSX: FNV) (NYSE: FNV) has announced that its subsidiary, Franco-Nevada (Barbados) (FNB), has acquired a gold stream from SolGold plc's Cascabel copper-gold project in Ecuador. FNB has partnered with Osisko Gold Royalties 's subsidiary on a 70%/30% basis, providing a total of $750 million in funding. The deal includes $100 million in pre-construction funding and $650 million for construction.
Key points:
- FNB will contribute $525 million, while Osisko will provide $225 million
- The stream is expected to average approximately 50,000 GEOs per year for FNB over the first 10 years of full production
- Cascabel is one of the largest copper-gold development projects globally
- The transaction includes structural protections and exploration potential
Franco-Nevada announced the election of directors at the 2024 Annual Meeting, with detailed voting results provided. The company is a leading gold-focused royalty and streaming firm, offering a diversified asset portfolio and operating debt-free. Franco-Nevada trades under the symbol FNV on the Toronto and New York stock exchanges.
Franco-Nevada reported Q1 2024 results with a focus on margin expansion fueled by elevated gold prices. The company saw high margins, no debt, and $2.3B in available capital. Despite a decline in total GEOs sold and revenue from Q1 2023, the company remains optimistic about upcoming production from new mines like Salares Norte and Greenstone. Strong financial position and commitment to ESG initiatives reinforce Franco-Nevada's leading position in the industry.
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