10 Best Gold Mining Stocks to Buy as Central Banks Buy Bullion

8. Franco-Nevada Corporation (NYSE:FNV)

Short % of Shares Outstanding: 1.55%

Franco-Nevada Corporation (NYSE:FNV) stated on May 13 that it remains on track to achieve its 2026 gold equivalent ounce sales guidance of 510,000 to 570,000 ounces, excluding potential contributions from the Cobre Panama project. Management noted that while recent approval for processing stockpiled ore at Cobre Panama is expected to provide some benefit this year, the majority of associated deliveries are anticipated in 2027. The company also highlighted the resilience of its royalty and streaming model, emphasizing that revenues are largely insulated from mining cost inflation and operational risks. In addition, management stated that sustained increases in oil prices could provide incremental upside to the company’s energy revenue segment, with a $10 increase in oil prices potentially boosting oil-related revenue by roughly 12%.

Earlier, on April 29, Canaccord analyst Carey MacRury upgraded Franco-Nevada Corporation (NYSE:FNV) to Buy from Hold and raised the firm’s price target to C$415 from C$380. The upgrade reflected growing confidence in the company’s diversified royalty portfolio, stable cash-generating profile, and long-term exposure to precious metals and energy markets without the direct operational risks associated with mine ownership.

Franco-Nevada Corporation (NYSE:FNV) is a gold-focused royalty and streaming company that provides financing to mining operators in exchange for future production royalties and stream agreements. Founded in 1983 and headquartered in Toronto, the company maintains a diversified portfolio spanning precious metals, energy, and other natural resource assets. Unlike traditional mining operators, Franco-Nevada benefits from commodity price exposure while avoiding many direct mining and capital cost pressures.

The company’s diversified royalty structure and strong exposure to precious metals prices may continue supporting resilient cash flow generation even during periods of operational volatility across the mining sector.