Franco-Nevada (TSE:FNV) Reaches New 12-Month High After Analyst Upgrade

Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) hit a new 52-week high during mid-day trading on Friday after Bank of America raised their price target on the stock from C$255.00 to C$290.00. The stock traded as high as C$259.15 and last traded at C$258.82, with a volume of 90794 shares trading hands. The stock had previously closed at C$253.72.

Several other research analysts also recently issued reports on the stock. Canaccord Genuity Group upped their target price on shares of Franco-Nevada from C$262.00 to C$267.00 in a research note on Tuesday, June 10th. BMO Capital Markets upped their target price on shares of Franco-Nevada from C$260.00 to C$261.00 in a research note on Wednesday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Strong Buy” and an average target price of C$240.00.

Insider Buying and Selling at Franco-Nevada

In related news, Director Boris De Vries sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of C$241.96, for a total transaction of C$362,932.65. Also, Director Paul Brink sold 14,251 shares of Franco-Nevada stock in a transaction on Monday, June 23rd. The stock was sold at an average price of C$232.91, for a total transaction of C$3,319,153.38. Company insiders own 0.69% of the company’s stock.

Franco-Nevada Stock Performance

The business’s fifty day moving average is C$230.53 and its two-hundred day moving average is C$225.00. The company has a market cap of C$49.88 billion, a P/E ratio of 63.59, a price-to-earnings-growth ratio of 5.00 and a beta of 0.45.

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.