FNV trades 2.9% below Wall Street's consensus target of $275.00.
Last 12 months price action with 12-month analyst target path
The base valuation assumes FNV achieves its forward estimates and maintains a stable P/E multiple of 31.8x. This scenario reflects the blended consensus of 26 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
As of September 23, 2026, Franco-Nevada Corporation (FNV) has a Wall Street consensus price target of $275.00, based on estimates from 26 covering analysts. With the stock currently trading at $267.20, this represents a potential upside of +2.9%. The company has a market capitalization of $51.53B.
Analyst price targets range from a low of $245.00 to a high of $291.00, representing a 17% spread in expectations. The median target of $280.00 aligns closely with the consensus average. The tight target dispersion indicates high conviction among analysts.
The current analyst consensus rating is Buy, with 12 analysts rating the stock as a Buy or Strong Buy,12 rating it Hold, and 2 rating it Sell or Strong Sell. The mixed ratings reflect uncertainty about near-term direction.
From a valuation perspective, FNV trades at a trailing P/E of 45.6x and forward P/E of 31.8x. The forward PEG ratio of 1.20 indicates reasonable valuation for growth. Analysts expect EPS to grow +9.8% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $165.39, with bear and bull scenarios of $104.20 and $217.92 respectively. Model confidence stands at 45/100, suggesting limited visibility into future performance.
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 WPMWheaton Precious Metals Corp. | $69.8B | $153.81 | $164.80 | +7.1% | Buy | 32.2x | 20 |
 RGLDRoyal Gold, Inc. | $21.9B | $258.29 | $301.50 | +16.7% | Buy | 24.8x | 28 |
 OROR Royalties Inc. | $7.0B | $37.55 | $40.33 | +7.4% | Buy | 20.8x | 9 |
 EMXEMX Royalty Corporation | $453M | $4.16 | $5.75 | +38.2% | Buy | 45.0x | 1 |
 NEMNewmont Corporation | $134.1B | $127.26 | $136.83 | +7.5% | Buy | 13.5x | 37 |
 AEMAgnico Eagle Mines Limited | $103.1B | $203.55 | $218.83 | +7.5% | Buy | 17.1x | 31 |
 KGCKinross Gold Corporation | $34.3B | $28.70 | $37.00 | +28.9% | Buy | 10.3x | 29 |
 AGIAlamos Gold Inc. | $15.2B | $36.29 | $42.00 | +15.7% | Buy | 16.5x | 13 |
 EGOEldorado Gold Corporation | $9.6B | $44.85 | $44.67 | -0.4% | Hold | 13.4x | 24 |
 AUAngloGold Ashanti plc | $52.9B | $104.60 | $98.50 | -5.8% | Buy | 11.6x | 14 |
Quick answers to the most common questions about buying FNV stock.
The consensus price target for FNV is $275, close to the current price of $267.2 (2.9% implied move). Based on 26 analyst estimates, the stock appears fairly valued near current levels.
FNV has a consensus rating of "Buy" based on 26 Wall Street analysts. The rating breakdown is mixed, with 12 Hold ratings making up the largest segment. The consensus 12-month price target of $275 implies 2.9% upside from current levels.
FNV trades at a forward P/E of 31.844x, representing a moderate valuation. With analysts targeting $275 (2.9% implied move), the stock appears close to fair value.
The most bullish Wall Street analyst has a price target of $291 for FNV, while the most conservative target is $245. The consensus of $275 represents the median expectation. Our quantitative valuation model projects a bull case target of $218 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
FNV is heavily covered by Wall Street, with 26 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 12 have Buy ratings, 12 recommend Hold, and 2 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
The 12-month FNV stock forecast based on 26 Wall Street analysts shows a consensus price target of $275, with estimates ranging from $245 (bear case) to $291 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $165, with bear/bull scenarios of $104/$218.
Our quantitative valuation model calculates FNV's fair value at $165 (base case), with a bear case of $104 and bull case of $218. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 45/100.
FNV trades at a forward P/E ratio of 31.8x based on next-twelve-months earnings estimates compared to a trailing P/E of 45.6x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
FNV appears fairly valued according to analysts, with a "Buy" rating and minimal upside to the $275 target. Consider your investment thesis and risk tolerance. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
FNV analyst price targets range from $245 to $291, a 17% tight range reflecting strong analyst consensus. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $275 consensus represents the middle ground. Our model's $104-$218 range provides an independent fundamental perspective.
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