Franco-Nevada (TSE:FNV) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

by · The Markets Daily

Franco-Nevada Co. (TSE:FNV – Get Free Report) (NYSE:FNV)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$328.31 and traded as high as C$370.34. Franco-Nevada shares last traded at C$363.82, with a volume of 166,320 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. National Bank Financial raised shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating and raised their price target for the stock from C$410.00 to C$420.00 in a research report on Wednesday, May 13th. Stifel Nicolaus boosted their price objective on shares of Franco-Nevada from C$380.00 to C$390.00 in a report on Friday, July 17th. Finally, TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. Three equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the company has an average rating of “Strong Buy” and an average target price of C$356.56.

Read Our Latest Stock Report on FNV

Franco-Nevada Trading Down 1.8%

The business has a 50-day moving average price of C$325.80 and a two-hundred day moving average price of C$328.47. The stock has a market capitalization of C$69.52 billion, a P/E ratio of 47.12, a P/E/G ratio of 5.00 and a beta of 1.10.

Franco-Nevada (TSE:FNV – Get Free Report) (NYSE:FNV) last issued its quarterly earnings results on Tuesday, August 11th. The company reported C$2.57 EPS for the quarter. The company had revenue of C$825.33 million for the quarter. Franco-Nevada had a return on equity of 18.95% and a net margin of 63.83%. On average, sell-side analysts forecast that Franco-Nevada Co. will post 3.1114111 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Franco-Nevada news, insider Sandip Rana sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of C$344.87, for a total value of C$3,448,700.00. Following the transaction, the insider directly owned 60,274 shares of the company’s stock, valued at C$20,786,694.38. This trade represents a 14.23% decrease in their position. 0.69% of the stock is currently owned by corporate insiders.

Franco-Nevada Company Profile

(Get Free Report)

Franco-Nevada Corp is a precious-metals-focused royalty and investment company. The company owns a diversified portfolio of precious metals and royalty streams, which is actively managed to generate the bulk of its revenue from gold, silver, and platinum. The company does not operate mines, develop projects, or conduct exploration. Franco-Nevada’s short-term financial performance is linked to the price of commodities and the amount of production from its portfolio of producing assets. Its long-term performance is affected by the availability of exploration and development capital.

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