Gold royalty firm Franco-Nevada's Q2 results miss estimates

Franco-Nevada

11/08/2026 22:41

Overview
Canada gold royalty firm's Q2 revenue rose 57% yr/yr but missed analyst expectations
Adjusted EPS for Q2 missed analyst expectations
Growth driven by higher precious metal and oil prices, and increased gold equivalent ounces sold

Outlook
Franco-Nevada sees 2026 GEOs sold at 510,000 to 570,000 ounces
Company expects 2026 production to be weighted to H2, benefiting from Cobre Panamá deliveries
Franco-Nevada tracking toward upper half of 2026 guidance range due to oil prices, Cobre Panamá

Result Drivers
PRECIOUS METAL PRICES - Co said higher precious metal prices contributed to increased revenue in Q2
INCREASED GEOs SOLD - Growth in gold equivalent ounces sold, particularly from new or recently producing assets, supported results
ENERGY PRICES - Higher oil prices boosted revenue from diversified assets, especially U.S. and Canadian energy interests

Company press release: ID:nPnnKncpa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$580.9 mln
$660.46 mln (3 Analysts)
Q2 Adjusted EPS
Miss
$1.81
$2.16 (8 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the gold peer group is "buy"
Wall Street's median 12-month price target for Franco-Nevada Corporation is C$387.82, about 15.6% above its August 10 closing price of C$335.43
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 25 three months ago

Reuters Recommended Reads
Aug 10 - Canada's Altius Minerals Q2 royalty revenue more than doubles on higher commodity prices
Aug 10 - Canada's Barrick Mining Q2 profit misses estimates, plans North American IPO by end-2026
Aug 11 - Chile copper output to fall 2.6% in 2026 before rebound, Cochilco says

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)