Gold Surged to $4,000, But Mining Valuations Remained Steady: 3 Key Stocks to Explore
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 17 2025
0mins
Source: Benzinga
Current Market Dynamics: Despite gold miners experiencing significant price increases, with GDX and GDXJ doubling in value, approximately $5 billion has exited mining ETFs, indicating a lack of confidence among investors and suggesting that the mining sector is under-owned rather than overcrowded.
Central Bank Influence: Central banks have become major net buyers of gold, purchasing 750-900 tonnes annually, which is significantly higher than previous years, while global mine supply is only growing by about 1%, creating a structural supply-demand imbalance.
Trading Strategies: Retail traders are advised to focus on high-quality miners like Newmont, Barrick, and Agnico Eagle, which have strong balance sheets and growth potential, while managing risk through defined position sizes and stop-loss strategies.
Market Outlook: The upcoming December FOMC meeting is a key event to watch, as the Fed's decisions on interest rates could impact gold prices and miner valuations, but the overall trend of increasing central bank demand and limited supply growth suggests continued opportunities in the mining sector.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy FNV?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on FNV
Wall Street analysts forecast FNV stock price to fall
10 Analyst Rating
6 Buy
4 Hold
0 Sell
Moderate Buy
Current: 237.000
Low
210.00
Averages
236.43
High
270.00
Current: 237.000
Low
210.00
Averages
236.43
High
270.00
About FNV
Franco-Nevada Corporation is a Canada-based gold-focused royalty and streaming company. The Company’s segments include precious metals, other mining and energy. The Company’s portfolio is diversified by commodity, geography and asset. Its assets include Candelaria, Antapaccay, Antamina, Condestable, Tocantinzinho, Cerro Moro, Salares Norte, Cascabel (Alpala), Posse (Mara Rosa), CentroGold (Gurupi), Calcatreu, and San Jorge. Its other mining assets include NuevaUnion, Taca Taca, Caserones, Copper World Project, Ring of Fire, Mt Keith, Crawford, Robinson, EaglePicher, Copper World Project, and Milpillas. Its United States assets include Stillwater, Goldstrike, Gold Quarry, Marigold, Bald Mountain, South Arturo, Mesquite, Castle Mountain, Stibnite Gold, Sterling, Granite Creek (Pinson) and Arthur Gold Project. Its Canadian assets include Detour Lake, Sudbury, Hemlo, Brucejack, Macassa (Kirkland Lake), Dublin Gulch (Eagle), Musselwhite, and Timmins West.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Franco-Nevada Set to Announce Q1 Earnings on May 12
- Earnings Announcement: Franco-Nevada is set to release its Q1 earnings on May 12 after market close, with consensus EPS estimate at $2.08 and revenue expected at $635.28 million, reflecting a robust 72.4% year-over-year growth that underscores the company's strong performance in the mining sector.
- Historical Performance: Over the past two years, Franco-Nevada has exceeded EPS estimates 75% of the time and revenue estimates 75% of the time, indicating a consistent reliability and stability in its profitability and revenue growth.
- Expectation Revisions: In the last three months, EPS estimates have seen two upward revisions and one downward revision, while revenue estimates have experienced one upward and one downward revision, highlighting market divergence and uncertainty regarding the company's future performance.
- Recent Financial Data: In its latest earnings report, Franco-Nevada reported a non-GAAP EPS of $1.85, beating expectations by $0.18, with revenue of $597.3 million, exceeding estimates by $64.53 million, further solidifying its competitive position in the market.
See More
Franco-Nevada Declares Quarterly Dividend of $0.44
- Quarterly Dividend Declaration: Franco-Nevada announces a quarterly dividend of $0.44 per share, consistent with previous distributions, indicating the company's stable cash flow and commitment to shareholder returns.
- Dividend Yield: The forward yield of 0.74% reflects the company's attractiveness in the current market environment, potentially drawing in more investors seeking stable income.
- Payment Schedule: The dividend is payable on June 25, with a record date of June 11 and an ex-dividend date also on June 11, ensuring shareholders receive timely returns.
- Earnings Beat: Franco-Nevada reported a non-GAAP EPS of $1.85, beating expectations by $0.18, while revenue reached $597.3M, exceeding forecasts by $64.53M, showcasing the company's strong performance in gold investments.
See More
Franco-Nevada Q1 Earnings Exceed Expectations
- Strong Earnings Performance: Franco-Nevada reported a Q1 GAAP EPS of $2.43, beating expectations by $0.19, indicating sustained growth in profitability and boosting investor confidence.
- Significant Revenue Growth: The company achieved revenue of $650.7 million, a 76.6% year-over-year increase, surpassing market expectations by $15.42 million, reflecting robust business expansion and strong market demand.
- Stable Sales Guidance: Franco-Nevada remains on track to meet its 2026 GEO sales guidance of 510,000 to 570,000 ounces, excluding potential contributions from Cobre Panamá, demonstrating confidence in future performance.
- Excellent Non-GAAP Results: The Q1 non-GAAP EPS was $1.85, exceeding expectations by $0.18, with revenue of $597.3 million, surpassing forecasts by $64.53 million, further affirming the company's financial health.
See More
Greenland Mines Releases Metal Price Sensitivity Analysis for Skaergaard Project
- Record Revenue Growth: Wheaton Precious Metals reported Q1 2026 revenue of $901.5 million, up 91.6% year-on-year, driven by a $4.3 billion silver stream deal with BHP, marking the largest transaction in the company's history and showcasing its robust performance in the precious metals market.
- Strong Profitability: Royal Gold achieved record revenue of $469.1 million in the same quarter, a 142.5% increase, with an 83% adjusted EBITDA margin reflecting the successful integration of its 2025 acquisitions of Sandstorm Gold and Horizon Copper, further solidifying its position in the mid-tier royalty space.
- Diversified Asset Portfolio: Franco-Nevada's 2026 Asset Handbook reveals 121 cash-flow producing assets generating $1.66 billion of adjusted EBITDA in 2025, with no debt and a 19-year streak of dividend increases, illustrating its stability and attractiveness in the precious metals sector.
- Project Potential Unveiled: Greenland Mines' recent sensitivity analysis on the Skaergaard project indicates a 45% and 55% uplift in palladium-equivalent grades for indicated and inferred resources, respectively, highlighting the project's potential value in a rising metal price environment and attracting increased investor interest.
See More
Franco-Nevada Releases 2026 Asset Handbook and Sustainability Report
- Asset Handbook Release: Franco-Nevada's 2026 Asset Handbook provides detailed descriptions of all significant assets, helping investors assess the potential of its portfolio and enhancing market confidence in its resource optionality.
- Sustainability Report Highlights: The 2026 Sustainability Report showcases the company's achievements in 2025 and future commitments, emphasizing responsible capital allocation and community contributions, aiming to elevate its leadership in sustainability.
- Gold-Focused Business Model: As a leading gold-focused royalty and streaming company, Franco-Nevada boasts the largest portfolio of cash-flow producing assets, providing investors with gold price and exploration optionality while limiting exposure to cost inflation risks.
- Debt-Free Operations: Franco-Nevada operates debt-free, utilizing its free cash flow to expand its portfolio and pay dividends, which provides strong support for future growth and shareholder returns due to its financial stability.
See More
Franco-Nevada Releases 2026 Asset Handbook and Sustainability Report
- Asset Handbook Release: Franco-Nevada's 2026 Asset Handbook details the performance and outlook of 121 cash-flow producing assets, which is expected to aid investors in assessing the portfolio's potential, thereby boosting market confidence.
- Sustainability Commitment: The 2026 Sustainability Report emphasizes the company's ongoing efforts in health, safety, and community management, showcasing its leadership in global mining, which may attract more environmentally and socially responsible investors.
- Strong Financial Performance: Since its IPO in 2007, Franco-Nevada has achieved a 17% compounded annual growth rate, with approximately $1.66 billion in Adjusted EBITDA for 2025, demonstrating robust financial health and enhancing its competitiveness in the resource sector.
- Debt-Free Advantage: The company is currently debt-free with $3.1 billion in available capital, and combined with the potential from recent acquisitions and mine expansions, it is expected to further drive future growth and solidify its leadership in gold and other mineral resources.
See More
Franco-Nevada Set to Announce Q1 Earnings on May 12
- Earnings Announcement: Franco-Nevada is set to release its Q1 earnings on May 12 after market close, with consensus EPS estimate at $2.08 and revenue expected at $635.28 million, reflecting a robust 72.4% year-over-year growth that underscores the company's strong performance in the mining sector.
- Historical Performance: Over the past two years, Franco-Nevada has exceeded EPS estimates 75% of the time and revenue estimates 75% of the time, indicating a consistent reliability and stability in its profitability and revenue growth.
- Expectation Revisions: In the last three months, EPS estimates have seen two upward revisions and one downward revision, while revenue estimates have experienced one upward and one downward revision, highlighting market divergence and uncertainty regarding the company's future performance.
- Recent Financial Data: In its latest earnings report, Franco-Nevada reported a non-GAAP EPS of $1.85, beating expectations by $0.18, with revenue of $597.3 million, exceeding estimates by $64.53 million, further solidifying its competitive position in the market.
See More
Franco-Nevada Declares Quarterly Dividend of $0.44
- Quarterly Dividend Declaration: Franco-Nevada announces a quarterly dividend of $0.44 per share, consistent with previous distributions, indicating the company's stable cash flow and commitment to shareholder returns.
- Dividend Yield: The forward yield of 0.74% reflects the company's attractiveness in the current market environment, potentially drawing in more investors seeking stable income.
- Payment Schedule: The dividend is payable on June 25, with a record date of June 11 and an ex-dividend date also on June 11, ensuring shareholders receive timely returns.
- Earnings Beat: Franco-Nevada reported a non-GAAP EPS of $1.85, beating expectations by $0.18, while revenue reached $597.3M, exceeding forecasts by $64.53M, showcasing the company's strong performance in gold investments.
See More
Franco-Nevada Q1 Earnings Exceed Expectations
- Strong Earnings Performance: Franco-Nevada reported a Q1 GAAP EPS of $2.43, beating expectations by $0.19, indicating sustained growth in profitability and boosting investor confidence.
- Significant Revenue Growth: The company achieved revenue of $650.7 million, a 76.6% year-over-year increase, surpassing market expectations by $15.42 million, reflecting robust business expansion and strong market demand.
- Stable Sales Guidance: Franco-Nevada remains on track to meet its 2026 GEO sales guidance of 510,000 to 570,000 ounces, excluding potential contributions from Cobre Panamá, demonstrating confidence in future performance.
- Excellent Non-GAAP Results: The Q1 non-GAAP EPS was $1.85, exceeding expectations by $0.18, with revenue of $597.3 million, surpassing forecasts by $64.53 million, further affirming the company's financial health.
See More
Greenland Mines Releases Metal Price Sensitivity Analysis for Skaergaard Project
- Record Revenue Growth: Wheaton Precious Metals reported Q1 2026 revenue of $901.5 million, up 91.6% year-on-year, driven by a $4.3 billion silver stream deal with BHP, marking the largest transaction in the company's history and showcasing its robust performance in the precious metals market.
- Strong Profitability: Royal Gold achieved record revenue of $469.1 million in the same quarter, a 142.5% increase, with an 83% adjusted EBITDA margin reflecting the successful integration of its 2025 acquisitions of Sandstorm Gold and Horizon Copper, further solidifying its position in the mid-tier royalty space.
- Diversified Asset Portfolio: Franco-Nevada's 2026 Asset Handbook reveals 121 cash-flow producing assets generating $1.66 billion of adjusted EBITDA in 2025, with no debt and a 19-year streak of dividend increases, illustrating its stability and attractiveness in the precious metals sector.
- Project Potential Unveiled: Greenland Mines' recent sensitivity analysis on the Skaergaard project indicates a 45% and 55% uplift in palladium-equivalent grades for indicated and inferred resources, respectively, highlighting the project's potential value in a rising metal price environment and attracting increased investor interest.
See More
Franco-Nevada Releases 2026 Asset Handbook and Sustainability Report
- Asset Handbook Release: Franco-Nevada's 2026 Asset Handbook provides detailed descriptions of all significant assets, helping investors assess the potential of its portfolio and enhancing market confidence in its resource optionality.
- Sustainability Report Highlights: The 2026 Sustainability Report showcases the company's achievements in 2025 and future commitments, emphasizing responsible capital allocation and community contributions, aiming to elevate its leadership in sustainability.
- Gold-Focused Business Model: As a leading gold-focused royalty and streaming company, Franco-Nevada boasts the largest portfolio of cash-flow producing assets, providing investors with gold price and exploration optionality while limiting exposure to cost inflation risks.
- Debt-Free Operations: Franco-Nevada operates debt-free, utilizing its free cash flow to expand its portfolio and pay dividends, which provides strong support for future growth and shareholder returns due to its financial stability.
See More
Franco-Nevada Releases 2026 Asset Handbook and Sustainability Report
- Asset Handbook Release: Franco-Nevada's 2026 Asset Handbook details the performance and outlook of 121 cash-flow producing assets, which is expected to aid investors in assessing the portfolio's potential, thereby boosting market confidence.
- Sustainability Commitment: The 2026 Sustainability Report emphasizes the company's ongoing efforts in health, safety, and community management, showcasing its leadership in global mining, which may attract more environmentally and socially responsible investors.
- Strong Financial Performance: Since its IPO in 2007, Franco-Nevada has achieved a 17% compounded annual growth rate, with approximately $1.66 billion in Adjusted EBITDA for 2025, demonstrating robust financial health and enhancing its competitiveness in the resource sector.
- Debt-Free Advantage: The company is currently debt-free with $3.1 billion in available capital, and combined with the potential from recent acquisitions and mine expansions, it is expected to further drive future growth and solidify its leadership in gold and other mineral resources.
See More
