CNL vs FNV

Collective Mining Ltd. vs Franco-Nevada Corporation — Valuation Comparison 2026

By CirclFi Research Team · Updated 2026-06-03 · Data from SEC EDGAR, FRED & GDELT

Quick Summary — FNV scores higher on quality with 2.1/10 vs CNL's 2.0/10. CNL trades at $16.77 while FNV trades at $235.92. Both analyzed daily using SEC EDGAR data across 13 institutional models.

CNL

Gold
Collective Mining Ltd.
Quality
2.0
out of 10
Value Trap
Price
$16.77
Last close
Models
6/13
Active
VS

FNV

Gold
Franco-Nevada Corporation
Quality
2.1
out of 10
Value Trap
Price
$235.92
Last close
Models
13/13
Active
CNL
2 models active
Quality 2.0/10 — below average
FNV
2 models active
Quality 2.1/10 — below average

CNL vs FNV — Fair Value Comparison

CNL
$0$7$13$20 Price$16.77 Bayesian …$4.36 (-74.0%) PWERM$13.82 (-17.6%)
FNV
$0$93$186$278 Price$235.92 Bayesian …$59.08 (-75.0%) Earnings …$94.61 (-59.7%)
Market Price Model 1 Model 2

Model-by-Model Comparison

ModelType CNL Fair ValueCNL Upside FNV Fair ValueFNV Upside
Bayesian DCF Intrinsic $4.36 -74.0% $59.08 -75.0%
Earnings Power Value Intrinsic $94.61 -59.7%
EROIC Spread Intrinsic $•••.•• ••.•% $•••.•• ••.•%
First Chicago Scenario $•••.•• ••.•% $•••.•• ••.•%
Markov DDM Intrinsic $•••.•• ••.•% $•••.•• ••.•%
ML-RIV Intrinsic $•••.•• ••.•% $•••.•• ••.•%
Dynamic NAV Asset-Based $•••.•• ••.•% $•••.•• ••.•%
PWERM Option-Based $13.82 -17.6% $212.25 -10.0%
Regime Cross-Sectional Relative $•••.•• ••.•% $•••.•• ••.•%
Sentiment SOTP Hybrid $•••.•• ••.•% $•••.•• ••.•%
CUCE Ensemble Ensemble $•••.•• ••.•% $•••.•• ••.•%
FTNN Topology Relative $•••.•• ••.•% $•••.•• ••.•%
RCMH-DCF Intrinsic $•••.•• ••.•% $•••.•• ••.•%

CNL vs FNV — Which Stock Is More Undervalued in 2026?

FNV scores higher with a 2.1/10 quality rating vs CNL's 2.0/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

How Do CNL and FNV Valuations Compare?

At $16.77, CNL trades +74.0% above its Bayesian DCF fair value of $4.36, while FNV at $235.92 trades +75.0% above its estimate of $59.08. FNV shows a wider gap between price and intrinsic value.

Quality of Company: CNL vs FNV

CNL earns a Quality of Company score of 2.0/10 compared to FNV's 2.1/10. The scores are closely matched, indicating similar fundamental quality profiles. The QOC score synthesizes 32 signals spanning profitability margins, revenue growth, free cash flow, capital allocation, and leverage.

Value Trap Risk: CNL vs FNV

Review the value trap analysis for both CNL and FNV to assess whether apparent undervaluation reflects genuine opportunity or hidden fundamental risk.

Both in Gold

Both CNL and FNV operate in Gold, which has 50 stocks tracked by CirclFi. Same-industry comparisons provide the most direct insight into relative valuation since both companies face similar regulatory environments, market dynamics, and competitive pressures. Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN), and ensemble methods (CUCE).

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