Gold Prices: As a gold royalty and streaming company, Franco-Nevada's revenue is directly tied to the price of gold. Higher gold prices generally lead to increased profitability and a higher stock price.

Silver Prices: Similar to gold, silver also contributes significantly to Franco-Nevada's revenue. Rising silver prices can positively impact the stock.

Production Volumes: The amount of gold, silver, and other commodities produced by the mining companies Franco-Nevada has agreements with directly affects its revenue. Higher production volumes translate to more royalties and streams, potentially boosting the stock.

Operating Costs of Mining Partners: The financial health of Franco-Nevada's mining partners is crucial. If their operating costs increase substantially, it could negatively impact their profitability and production, thus affecting Franco-Nevada's royalty income.

Overall Market Conditions: General economic trends, investor sentiment, and market volatility can influence the demand for gold as a safe-haven asset, indirectly impacting Franco-Nevada's stock.

Interest Rates: Changes in interest rates can affect the attractiveness of gold as an investment. Higher rates might reduce gold's appeal, while lower rates could increase it, subsequently influencing Franco-Nevada's stock.

Inflation: Gold is often seen as an inflation hedge. Higher inflation rates can lead to increased demand for gold and potentially a higher stock price for Franco-Nevada.

Acquisitions and Investments: Franco-Nevada's strategic decisions to acquire new royalties or streams can significantly impact its future revenue potential and investor confidence, affecting the stock price.

Geopolitical Risks: Global political and economic instability can drive investors towards safe-haven assets like gold, increasing demand and potentially boosting Franco-Nevada's stock.

Currency Fluctuations: Changes in currency exchange rates, particularly between the US dollar (where Franco-Nevada reports its earnings) and the currencies of countries where its mining partners operate, can impact its financial performance.