Core Insights - Franco-Nevada Corporation (NYSE:FNV) is recognized as one of the best Canadian dividend stocks for long-term investment [1] - TD Securities has reduced its price target for FNV from $247 to $225 while maintaining a Hold rating, citing a shift in investor sentiment and increased market volatility following a gold price decline [2] - In Q3 2025, FNV reported record revenue of $487.7 million, a 77% increase year-over-year, surpassing analysts' expectations by $27 million [3] - The company’s operating cash flow reached $348.0 million, reflecting a 63% increase from the previous year, and it has maintained a debt-free balance sheet [4] Financial Performance - FNV's revenue for Q3 2025 was $487.7 million, marking a 77% growth compared to the same quarter last year [3] - Operating cash flow for the company was $348.0 million, which is a 63% increase from the prior year [4] - The company has increased its dividend annually since its IPO in 2008, achieving 18 consecutive years of growth by 2025 [4] Business Model and Strategy - Franco-Nevada operates as a streaming and royalty company with a focus on gold, holding a diversified portfolio that includes agreements linked to various metals and oil and gas [5] - The company has acquired six significant new gold interests over the past 18 months, enhancing its long-term growth prospects and increasing its revenue exposure to precious metals, which accounted for 85% of total revenue in the quarter [3]