FNV

Key Takeaways

• Franco-Nevada does not operate a single mine: it buys the right to a slice of what other people's mines produce, which is why costs of sales absorbed only 124.4 million dollars of the 650.7 million of revenue it recorded in the first quarter of 2026, and more than half of that was non-cash depletion [Source: Q1 2026 interim financial statements furnished on Form 6-K, May 2026]. • Concentration is by commodity rather than by customer: precious metals supplied 87 percent of first-quarter revenue

Institutional ownership

621 institutional managers reported holding FNV in 13F filings for the quarter ended 2026-03-31. Together they hold about 71% of the company; the top 10 hold 40%. 86 opened new positions that quarter. Held by FMR (Fidelity), MFS Investment Management, Vanguard Group, among others. On the short side, 2.7M shares were sold short as of the 2026-06-15 count, about 1% of shares outstanding (2.2 days of typical volume to cover).

Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.

Capital returns

FNV's share count grew 0.9% over the past five years. It pays a dividend, and has paid one every year in our records (9 and counting). Cash returned over the past three years: $505.00M in dividends.

Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.

Compare FNV

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