Franco-Nevada (TSE:FNV) Share Price Passes Above 200-Day Moving Average on Analyst Downgrade

Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) shares crossed above its two hundred day moving average during trading on Thursday after Bank of America raised their price target on the stock from C$255.00 to C$290.00. The stock has a two hundred day moving average of C$238.04 and traded as high as C$310.40. Franco-Nevada shares last traded at C$303.42, with a volume of 506,675 shares traded.

FNV has been the topic of several other reports. Canaccord Genuity Group boosted their target price on shares of Franco-Nevada from C$262.00 to C$267.00 in a report on Tuesday, June 10th. BMO Capital Markets boosted their target price on shares of Franco-Nevada from C$260.00 to C$261.00 in a report on Wednesday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$246.88.

Insiders Place Their Bets

In other news, insider Sandip Rana sold 6,000 shares of the business’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 value of C$1,646,844.00. Following the sale, the insider directly owned 57,483 shares of the company’s stock, valued at approximately C$15,777,588.94. The trade was a 9.45% decrease in their position. Also, insider Christian Thatcher sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of C$273.00, for a total transaction of C$1,638,000.00. In the last ninety days, insiders sold 15,560 shares of company stock worth $4,228,233. Insiders own 0.69% of the company’s stock.

Franco-Nevada Stock Performance

The firm’s 50 day moving average is C$261.00 and its two-hundred day moving average is C$238.04. The stock has a market capitalization of C$58.47 billion, a PE ratio of 74.55, a P/E/G ratio of 5.00 and a beta of 0.53.

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.