Franco-Nevada (TSE:FNV) Share Price Passes Above 200 Day Moving Average – What’s Next?

Franco-Nevada Co. (TSE:FNV) (NYSE:FNV)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$249.34 and traded as high as C$282.72. Franco-Nevada shares last traded at C$276.78, with a volume of 371,224 shares.

Analyst Ratings Changes

A number of research firms have recently weighed in on FNV. CIBC lifted their target price on Franco-Nevada from C$315.00 to C$460.00 in a research report on Friday, October 10th. TD Securities dropped their price objective on Franco-Nevada from C$247.00 to C$225.00 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Bank of America lifted their price objective on shares of Franco-Nevada from C$255.00 to C$290.00 in a report on Friday, August 29th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and increased their target price for the company from C$322.00 to C$350.00 in a report on Wednesday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$282.00.

Franco-Nevada Trading Down 1.2%

The stock has a market capitalization of C$53.36 billion, a PE ratio of 58.03, a price-to-earnings-growth ratio of 5.00 and a beta of 0.83. The firm has a 50-day moving average price of C$282.13 and a 200-day moving average price of C$249.34.

Franco-Nevada (TSE:FNV) (NYSE:FNV) last issued its quarterly earnings results on Monday, November 3rd. The company reported C$1.49 earnings per share for the quarter. Franco-Nevada had a negative net margin of 57.55% and a negative return on equity of 10.83%. The company had revenue of C$673.37 million for the quarter. Sell-side analysts expect that Franco-Nevada Co. will post 3.1114111 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Sandip Rana sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of C$274.47, for a total transaction of C$1,646,844.00. Following the completion of the sale, the insider owned 57,483 shares in the company, valued at C$15,777,588.94. This trade represents a 9.45% decrease in their position. Also, Director Boris De Vries sold 2,000 shares of Franco-Nevada stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of C$262.30, for a total transaction of C$524,598.00. Following the completion of the sale, the director directly owned 4,770 shares in the company, valued at C$1,251,166.23. This trade represents a 29.54% decrease in their position. Over the last ninety days, insiders sold 15,560 shares of company stock worth $4,228,233. 0.69% of the stock is owned by insiders.

Franco-Nevada Company Profile

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.