10 Most Oversold Canadian Stocks to Invest In

7. Franco-Nevada Corporation (NYSE:FNV)

Relative Strength Index Reading: 31.70

Stock Upside Potential: 35.83%

Number of Hedge Fund Holders: 41

Franco-Nevada Corporation (NYSE:FNV) is one of the most oversold Canadian stocks to invest in. On April 29, Canaccord analyst Carey MacRury upgraded Franco-Nevada Corp (NYSE: FNV) to a Buy from a Hold rating. The upgrade comes amid expectations that the company is positioned to benefit from higher gold prices.

The research firm expects gold prices to average $4,758 per ounce in 2026, up from its previous guidance of $4,401. Some of the factors Canaccord expects to drive higher gold prices include supportive central bank policies and unresolved global trade issues. Geopolitical tensions, driven by the escalation of war in the Middle East, are also expected to fuel demand for the precious metal.

Canaccord does not see any clear end in sight to the Iran conflict, which supports the case for higher gold prices. In addition, gold is expected to benefit from central banks’ monetary policy. The research firm expects Franco-Nevada Corp. and other gold producers to deliver improving margins and profitability as capital spending remains low.

Franco-Nevada Corporation (NYSE:FNV) is the leading gold-focused royalty and streaming company. It manages the largest and most diversified portfolio of cash-flow producing assets in mining and energy. The company does not operate mines, develop projects, or conduct exploration. Instead, it provides financing to mining companies in exchange for long-term rights to production.