Franco-Nevada (TSE:FNV) Downgraded by Canaccord Genuity Group to “Hold”

Canaccord Genuity Group downgraded shares of Franco-Nevada (TSE:FNV) (NYSE:FNV) from a buy rating to a hold rating in a report released on Thursday,BayStreet.CA reports. Canaccord Genuity Group currently has C$322.00 target price on the stock, up from their previous target price of C$270.00.

Separately, Bank of America lifted their target price on Franco-Nevada from C$255.00 to C$290.00 in a research report on Friday, August 29th. Three analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Franco-Nevada currently has an average rating of “Buy” and an average price target of C$246.88.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock opened at C$303.42 on Thursday. Franco-Nevada has a one year low of C$157.70 and a one year high of C$314.53. The company has a market cap of C$58.47 billion, a price-to-earnings ratio of 74.55, a PEG ratio of 5.00 and a beta of 0.53. The business’s 50 day moving average price is C$261.00 and its 200 day moving average price is C$238.04.

Insider Transactions at Franco-Nevada

In related news, insider Adrian Wong sold 500 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of C$275.00, for a total value of C$137,500.00. Following the sale, the insider owned 9,613 shares in the company, valued at approximately C$2,643,575. The trade was a 4.94% decrease in their position. Also, Director Boris De Vries sold 2,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of C$262.30, for a total value of C$524,598.00. Following the completion of the sale, the director owned 4,770 shares in the company, valued at C$1,251,166.23. This represents a 29.54% decrease in their position. In the last three months, insiders have sold 15,560 shares of company stock worth $4,228,233. 0.69% of the stock is owned by corporate 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.