Hey there,
I'd encourage you to read our updates on Franco-Nevada in the Canadian Foundational stock area. What happened is pretty simple, one of their biggest producing assets (Cobre Panama) was shut down by the government due to protests. This has been an ongoing issue since last fall and this quarter, the company wrote off these assets. You can see more details in our latest update from this past week. The mine could be restarted in which case it could reverse the write-off, or it can go through the courts to get compensated (which it will at the very least).
CP accounted for approximately 20% of producing assets, so that is why the company dropped. That said, the drop was overdone and it remains one of the best gold stocks in the country. It might take some time to flush through this CP stuff, but the rest of the business is growing, it has no debt and has plenty of room to make further royalty deals.
All in all, short-term headwinds for this company and if we had any concerns about holding or buying, we'd remove it from the Foundational list. We don't and still consider it best-in-class so it remains.
Mat