- Franco-Nevada is one of the best-performing precious metals stocks this year, up 7% vs. a 13% decline in the Gold Miners Index.
- The company just came off another incredible quarter, with revenue up 13% year-over-year despite lapping a record gold price, with energy revenue picking up the slack.
- However, with the stock trading at 35x FY2023 earnings estimates, I still don't see enough of a margin of safety here to jump into the stock at current levels.
- So, while Franco-Nevada is a staple for any precious metals portfolio, I think there are a few better ways to play the royalty/streaming space currently.
For further details see:
Franco-Nevada: Trading At A Significant Premium To Net Asset Value