Franco Nevada Stock Price, News & Analysis

Franco-Nevada reported strong results for Q4 and the full year 2022, with total GEOs sold reaching 729,960, a slight increase of 0.2%. Q4 revenue was $320.4 million, down 2% year-over-year, primarily due to lower precious metal and iron ore contributions. However, the company's diversified asset base, particularly in energy, helped offset declines. Franco-Nevada remains debt-free with $2.2 billion in available capital and nearly $1 billion in operating cash flow for 2022. The company anticipates consistency in production for 2023 but expects lower total GEOs due to falling energy prices. A quarterly dividend increase of 6.25% to $0.34/share has been announced.

Franco-Nevada Corporation (NYSE: FNV) announced that its partner, First Quantum Minerals Ltd., has finalized a draft concession contract with the Government of Panama for the Cobre Panama mine. The contract has a 20-year initial term with the potential for extensions. A public consultation process and approvals from the Panamanian authorities are required before final implementation. Additionally, the Panama Maritime Authority confirmed that operations at Punta Rincón port will resume shortly, allowing the mine to restore full production in the coming days. Further details can be found in First Quantum's related press release.

Franco-Nevada Corporation (NYSE:FNV) announced that its partner, First Quantum Minerals Ltd., has suspended ore processing at the Cobre Panama mine due to a resolution from the Panama Maritime Authority requiring scale certification. First Quantum believes it has complied with the AMP's requirements, however, concentrate loading operations remain prohibited. First Quantum plans to partially demobilize its workforce while maintaining communication with the Panamanian government to facilitate future operations. Despite the suspension, Franco-Nevada remains profitable, debt-free, and maintains over US$1 billion in cash and working capital.

Franco-Nevada Corporation (NYSE:FNV) announced updates regarding the Cobre Panama mine, operated by First Quantum Minerals Ltd. On January 26, 2023, the Panama Maritime Authority suspended concentrate loading at the Cobre Panama Port until scale calibration certification is initiated. On February 3, 2023, Minera Panama, S.A. submitted proof for this certification. If loading does not resume by mid-February, operations may be suspended due to limited storage. Additionally, a legal challenge has arisen as the Government of Panama seeks to invalidate an extension of Minera Panama's concession contract to 2037. The Supreme Court of Panama has not yet ruled on this matter.

Franco-Nevada Corporation has announced a quarterly dividend increase to US$0.34 per share, up 6.25% from the previous US$0.32, effective for the entire 2023 fiscal year. This marks the 16th consecutive annual increase for shareholders. The dividend is payable on March 30, 2023, to shareholders on record as of March 16, 2023. Canadian investors since the IPO in December 2007 receive a 12.2% yield based on their cost base. Additionally, the company has adjusted its Dividend Reinvestment Plan discount from 3% to 1%. Future financial results will be disclosed on March 15, 2023.

Franco-Nevada Corporation (TSX: FNV), on January 10, 2023, announced ongoing discussions between First Quantum Minerals Ltd. and the Government of Panama regarding the Cobre Panama mine. First Quantum is preparing a plan to place the mine under 'care and maintenance' following a directive from the National Directorate of Mineral Resources. Currently, operations continue without disruption. A conference call is scheduled for the same day to address developments related to the mine's status.

Franco-Nevada Corporation (TSX: FNV, NYSE: FNV) announced updates regarding its partner First Quantum Minerals Ltd. and the Cobre Panama mine. Formal discussions with the Government of Panama resumed on December 26. While First Quantum's subsidiary, Minera Panama, S.A., is preparing a plan for maintenance, operations at Cobre Panama remain unaffected. As a precaution, First Quantum and MPSA have initiated domestic legal proceedings and international arbitration.

Franco-Nevada Corporation (FNV) announced that the Government of Panama has directed various ministries to prepare for a potential suspension of operations at the Cobre Panama project. The company is in communication with its partner, First Quantum Minerals Ltd., regarding the situation and will provide updates as necessary. This development could have significant implications for the company's operations and revenue from the Cobre Panama project, which is a critical asset for Franco-Nevada.

Franco-Nevada reported strong Q3 2022 results, achieving record revenue, net income, and Adjusted EBITDA, yet experienced a slight decline in total GEOs sold due to lower precious metal prices. Revenue reached $304.2 million, down 4% year-over-year, primarily from precious metals and iron ore, offset by increased oil and gas revenues. The company declared a quarterly dividend of $0.32 per share and remains debt-free with $2.0 billion in available capital. Franco-Nevada is on track to meet full year guidance, supported by recent acquisitions, including royalties on two notable gold projects.