- Franco-Nevada reported solid results in Q1, with double-digit revenue and adjusted EPS growth.
- This was helped by much higher energy prices and increased contribution from iron ore, offset by lower precious metals production and lower silver prices.
- Given Franco-Nevada's diversification by asset, diversification by commodity, and enviable project pipeline, the company continues to be the premier pick for low-risk precious metals exposure.
- However, at nearly 2.0x P/NAV and more than 35x forward earnings, I still don't see quite enough margin of safety at current levels at a share price of $140.00.
For further details see:
Franco-Nevada: Buy The Dips