Several analysts are predicting a stabilization and a resumption of the long term uptrend in prices of Gold. In 2012, the price range was between around $1550 to around $1790 per ounce The volatility was a reflection of the uncertainty about the future outlook of the world economy. However, in the recent quarters, while bombshells like the Cyprus crisis keep coming, there is improvement in some major economies around the world. For FNV, the higher average prices resulted in better financial performance. In 2012, the average average gold price for FNV was $1,669 per ounce compared with $1,569 per ounce for 2011 (a 6.4% rise). Prices of Platinum and palladium, however, fell 9.8% and 12.1% respectively. Since gold contributed maximum to the revenue (around 87%), the overall impact was positive. The net profit margin is around 24% and, over the years, company has consistently paid increasing dividends to investors. FNV has zero debt on books, and the book value per share is $21.46 (price to book is around 2.06). However, market cap to sales is very high at around 15, and the P/E is very high at 60. The future outlook given by the company for the next five years indicates an increase in Gold receipts of around 30-40%. If the prices of gold support, then this growth can be translated into decent returns for investors. The company has been on the lookout of inorganic growth through acquisitions, the latest being a $1 billion Cobre Panama commitment. While streaming companies like Silver Wheaton (SLW) are also on a lookout for acquisitions, even mining companies like CDE are buying stake in smaller companies e.g. Pershing Gold Corporation (PGLC) to further their strategic interests. On the other hand, smaller companies with good assets like Bullfrog Gold (BFGC) are on the lookout for strategic partners to fund and accelerate their production endeavors.