5 Best Gold Stocks To Buy For Recession

4. Franco-Nevada Corporation (NYSE:FNV)

Number of Hedge Fund Holders: 28    

Franco-Nevada Corporation (NYSE:FNV) operates as a gold-focused royalty and streaming company in Latin America, the United States, Canada, and internationally. On November 8, Franco-Nevada Corporation came out with adjusted quarterly earnings of 0.83 per share, or $159.7 million. The company generated $304.2 million in the third quarter, down 3.8% from last year’s same quarter.

At the end of the third quarter of 2022, 28 hedge funds in the database of Insider Monkey held stakes worth $857.2 million in Franco-Nevada Corporation (NYSE:FNV), compared to 25 in the previous quarter worth $976.7 million.

In its Q3 2022 investor letter, Horizon Kinetics, an asset management firm, highlighted a few stocks and Franco-Nevada Corporation (NYSE:FNV) was one of them. Here is what the fund said:

“Back to basic principles. We don’t hold gold in client portfolios, we hold gold royalty companies. The two have surprisingly little in common. The gold royalty company generates very impressive profits even if the gold price never rises, and it earns those profits year after year. Here is a long-term chart of Franco-Nevada Corporation (NYSE:FNV), the premier gold royalty company vs. gold itself: a comparable gold price today than a decade ago, yet Franco Nevada returned 12.5% annually, matching the S&P 500 return, despite its near sole source of revenues unchanged. What will Franco Nevada’s earnings and share price do if gold rises over the course of a decade?”