Bank of America Securities Bullish on Franco Nevada (FNV)

Franco-Nevada Corporation (NYSE:FNV) is one of the 13 Most Profitable Growth Stocks to Buy Right Now. After revising its 2026 metal price forecasts, Bank of America updated its price targets for the North American Metals & Mining stocks under its coverage. As part of that review, the firm increased its price target on Franco-Nevada Corporation (NYSE:FNV) from $262 to $280 while maintaining a Neutral rating on February 26.

On February 23, Franco-Nevada Corporation (NYSE:FNV) announced a A$220 million (approximately US$155 million) funding agreement with Minerals 260 Ltd. to fast-track the development of the Bullabulling gold project in Western Australia. The deal represents the company’s largest royalty investment in Australia to date.

As part of the agreement, Franco-Nevada Corporation (NYSE:FNV) will obtain an A$170 million gross royalty from Minerals 260 Ltd. to advance the Bullabulling project and invest A$50 million in the company’s shares. The deal increases its royalty from 1% to an effective 2.45% across a broader land package. The company will buy shares at A$0.45 each, securing a 4.9% stake. Bullabulling ranks among Australia’s larger short-term gold development projects. It holds 3 million ounces in indicated resources and 1.5M ounces inferred.

Based in Toronto, Canada, Franco-Nevada Corporation (NYSE:FNV) operates as a royalty and stream company. It is focused on precious metals, including silver, gold, and platinum group metals. The company operates in the Precious Metals, Other Mining, and Energy segments.

While we acknowledge the potential of FNV as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

Disclosure: None.