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FNV Set to Gain From Cobre Panama Stockpile Processing Approval
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Key Takeaways
FNV benefits as First Quantum Minerals wins Panama approval to process Cobre Panama stockpiles.
FNV says processing could yield 23,000 ounces of gold and 265,000 ounces of silver.
First Quantum estimates 38M tons of ore, with 70,000 tons of recoverable copper; restart aids growth.
Franco-Nevada Corporation (FNV - Free Report) announced its partner First Quantum Minerals Ltd. (FQVLF - Free Report) received approval from the government of Panama to process and export ore stockpiles at the Cobre Panama mine. These stockpiles were extracted before the suspension of operations at Cobre Panama. The restart of Cobre Panamá would further aid Franco-Nevada’s growth, and the Panamanian government's approval to process stockpiles is a positive move forward.
First Quantum Minerals estimates the stockpile to be 38 million tons of ore, with varying copper grades, containing around 70,000 tons of recoverable copper. According to Franco-Nevada, the processing of this material will yield roughly 23,000 ounces of gold and 265,000 ounces of silver for the company.
First Quantum Minerals halted operations at its Cobre Panama mine due to a blockade of small boats at the Punta Rincon port on Nov. 20, 2023, which hampered the delivery of essential supplies. The mine remains in a phase of Preservation and Safe Management with production suspended.
Franco-Nevada’s Q4 Performance
FNV reported adjusted earnings of $1.85 per share in fourth-quarter 2025, beating the Zacks Consensus Estimate of $1.68. The bottom line increased 95% year over year.
FNV generated revenues of $597 million in the reported quarter, marking a year-over-year surge of 86.1%. The upside was driven by record gold and silver prices, and strong production from Antamina and South Arturo. In the December-end quarter, 90% of revenues were sourced from Precious Metal assets (71% gold, 17% silver and 2% platinum group metals). Franco-Nevada sold 127,959 Gold Equivalent Ounces (GEOs) from Precious Metal assets in the reported quarter, up 34% from the prior-year quarter.
FNV’s 2026 Guidance
Franco-Nevada expects total GEOs between 510,000 and 570,000 for 2026, indicating a 4% increase at the mid-point from the 2025 reported figure. The upside will be driven by the first full year of contribution from Cote Gold, Porcupine and Valentine Gold. The continued ramp-up of Salares Norte and Greenstone, along with recent acquisitions, will aid growth.
Franco-Nevada Stock’s Price Performance
The company’s shares have soared 56% in the past year compared with the industry’s growth of 92.2%.
Image Source: Zacks Investment Research
FNV’s Zacks Rank & Stock to Consider
Franco-Nevada currently carries a Zacks Rank #2 (Buy).
The consensus estimate for DuPont de Nemours’ 2026 earnings is pegged at $2.28 per share. The estimate indicates year-over-year growth of 35.7%. DuPont de Nemours’ shares have surged 87% in a year.
The Zacks Consensus Estimate for Carpenter Technology’s 2026 earnings is pegged at $10.28 per share, indicating a year-over-year increase of 37.4%. CRS shares have skyrocketed 152% in a year. It delivered an average trailing four-quarter earnings surprise of 9.2%.
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FNV Set to Gain From Cobre Panama Stockpile Processing Approval
Key Takeaways
Franco-Nevada Corporation (FNV - Free Report) announced its partner First Quantum Minerals Ltd. (FQVLF - Free Report) received approval from the government of Panama to process and export ore stockpiles at the Cobre Panama mine. These stockpiles were extracted before the suspension of operations at Cobre Panama. The restart of Cobre Panamá would further aid Franco-Nevada’s growth, and the Panamanian government's approval to process stockpiles is a positive move forward.
First Quantum Minerals estimates the stockpile to be 38 million tons of ore, with varying copper grades, containing around 70,000 tons of recoverable copper. According to Franco-Nevada, the processing of this material will yield roughly 23,000 ounces of gold and 265,000 ounces of silver for the company.
First Quantum Minerals halted operations at its Cobre Panama mine due to a blockade of small boats at the Punta Rincon port on Nov. 20, 2023, which hampered the delivery of essential supplies. The mine remains in a phase of Preservation and Safe Management with production suspended.
Franco-Nevada’s Q4 Performance
FNV reported adjusted earnings of $1.85 per share in fourth-quarter 2025, beating the Zacks Consensus Estimate of $1.68. The bottom line increased 95% year over year.
FNV generated revenues of $597 million in the reported quarter, marking a year-over-year surge of 86.1%. The upside was driven by record gold and silver prices, and strong production from Antamina and South Arturo. In the December-end quarter, 90% of revenues were sourced from Precious Metal assets (71% gold, 17% silver and 2% platinum group metals). Franco-Nevada sold 127,959 Gold Equivalent Ounces (GEOs) from Precious Metal assets in the reported quarter, up 34% from the prior-year quarter.
FNV’s 2026 Guidance
Franco-Nevada expects total GEOs between 510,000 and 570,000 for 2026, indicating a 4% increase at the mid-point from the 2025 reported figure. The upside will be driven by the first full year of contribution from Cote Gold, Porcupine and Valentine Gold. The continued ramp-up of Salares Norte and Greenstone, along with recent acquisitions, will aid growth.
Franco-Nevada Stock’s Price Performance
The company’s shares have soared 56% in the past year compared with the industry’s growth of 92.2%.
FNV’s Zacks Rank & Stock to Consider
Franco-Nevada currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the basic materials space are DuPont de Nemours, Inc. (DD - Free Report) and Carpenter Technology Corporation (CRS - Free Report) . DD sports a Zacks Rank #1 (Strong Buy) at present, whereas CRS carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The consensus estimate for DuPont de Nemours’ 2026 earnings is pegged at $2.28 per share. The estimate indicates year-over-year growth of 35.7%. DuPont de Nemours’ shares have surged 87% in a year.
The Zacks Consensus Estimate for Carpenter Technology’s 2026 earnings is pegged at $10.28 per share, indicating a year-over-year increase of 37.4%. CRS shares have skyrocketed 152% in a year. It delivered an average trailing four-quarter earnings surprise of 9.2%.