This is why Franco-Nevada Corporation (FNV) is one of the Most Oversold Canadian Stocks to Invest In

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.

This is why Franco-Nevada Corporation (FNV) is one of the Most Oversold Canadian Stocks to Invest In

Pixabay/Public Domain

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.

While we acknowledge the risk and potential of FNV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FNV and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Stocks to Buy in 2026 According to Billionaire George Soros and Top 10 Undervalued REIT Stocks to Buy Now.

Disclosure: None. Follow Insider Monkey on Google News.