Bullabulling royalty package expands: Franco-Nevada stock gets USD 273.40 target

Franco-Nevada stock (ISIN CA3518581051) was trading at EUR 213.05 at Lang & Schwarz on October 8, 2026 at 2:29 p.m. CEST. Franco-Nevada had agreed on September 13, 2026 to an AUD 200.0 million financing package for the Bullabulling Gold Project, according to PR Newswire. On September 11, 2026, MarketBeat listed a Moderate Buy consensus and a USD 273.40 average 12-month target.

Three dated company developments

On August 11, 2026, Franco-Nevada reported second-quarter revenue of USD 580.90 million, up 57.30 percent year over year, according to MarketBeat. On September 10, 2026, the company had an ex-dividend date for a USD 0.44 quarterly dividend, the same source reported. On September 13, 2026, Franco-Nevada announced the AUD 200.0 million Bullabulling package, according to PR Newswire.

What does the royalty package add?

The package includes an AUD 170.0 million gross royalty acquisition and an AUD 30.0 million subscription for Minerals 260 shares. It raises Franco-Nevada's gross royalty interest in Bullabulling from 2.45 percent to 3.90 percent and lifts total support for the project to AUD 420.0 million, according to PR Newswire.

The transaction is a commitment rather than a completed payment: the release states that the royalty payment is due upon closing and that the equity subscription belongs to a future financing. Bullabulling's July 2026 resource included 4.4 million ounces of indicated resources and 1.7 million ounces of inferred resources, while first gold production was described as potentially arriving in the second half of 2028.

Results date and operating scale

Benzinga reported that Franco-Nevada expected to release third-quarter 2026 results after market close on November 10, 2026, with the conference call scheduled for the following morning. The second-quarter earnings call also recorded adjusted net income of USD 349.20 million, up 46.00 percent year over year.

For the full year 2026, Franco-Nevada expects 510,000 to 570,000 gold-equivalent ounces, and Zacks reported on September 30, 2026 that the company was tracking toward the upper half of that range. The operating picture combines strong reported growth with execution risk because production is weighted toward the second half of the year.

Stock quote in euros

Franco-Nevada was trading at EUR 213.05 at Lang & Schwarz on October 8, 2026 at 2:29 p.m. CEST. Its market capitalization was USD 45.9 billion as of October 7, 2026, while its primary listings are TSX:FNV and NYSE:FNV.

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Market context: Market report S&P/TSX Composite.

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