5 Gold Stocks to Buy Amid Russian Attack on Ukraine

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In this article, we discuss the 5 gold stocks to buy amid the Russian attack on Ukraine. If you want to read our detailed analysis of the Russia-Ukraine conflict and how it affects the gold industry, go to 10 Gold Stocks to Buy Amid Russian Attack on Ukraine.

5. Franco-Nevada Corporation (NYSE:FNV)

Number of Hedge Fund Holders: 29

Franco-Nevada Corporation (NYSE:FNV) is next up on our list of gold stocks to buy amid the Russian invasion of Ukraine. The Toronto-based company mainly focuses on gold for its stream and royalty businesses. As of February 25, shares of Franco-Nevada Corporation (NYSE:FNV) rose an impressive 32.29% in the last 12 months, and 13.05% in the last month.

On February 3, Barclays analyst Matthew Murphy upgraded Franco-Nevada Corporation (NYSE:FNV) to ‘Equal Weight’ from ‘Underweight’, and revised the price target to $110 from $107, noting that although he remains neutral on the mining sector in 2022 owing to cost inflation and slowing economic growth momentum, he believes gold companies now represent an ‘attractive hedge against risks of central bank error.’

In late December, analyst Heiko Ihle of H.C. Wainwright initiated Franco-Nevada Corporation (NYSE:FNV) with a ‘Buy’ rating, noting that the company is ‘widely regarded as the most prolific company in the mining royalty space’. He gave the firm a $167 price target. On January 27, Franco-Nevada Corporation (NYSE:FNV) declared a quarterly dividend yield of $0.32 per share, which is an increase of 6.7% from its previous dividend of $0.30 and brings them forward yield to 1.0%. Franco-Nevada Corporation (NYSE:FNV) has consistently grown its annual dividend yield since 2008.

Investors were quick to realize the upward trajectory of Franco-Nevada Corporation (NYSE:FNV) in the fourth quarter, as 29 hedge funds held combined stakes worth $1 billion in the firm. In comparison, 26 hedge funds held $951 million worth of positions in Franco-Nevada Corporation (NYSE:FNV) in the preceding quarter. Of the 29 hedge funds with long positions, Renaissance Technologies of Jim Simons was the top shareholder in the firm in Q4, with 4.1 million shares valued at $570.2 million.


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