CIBC Forecasts Strong Price Appreciation for Franco-Nevada (TSE:FNV) Stock

Franco-Nevada (TSE:FNV) (NYSE:FNV) had its price target upped by stock analysts at CIBC from C$315.00 to C$460.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 60.75% from the stock’s previous close.

A number of other research firms have also recently weighed in on FNV. Canaccord Genuity Group cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and upped their price objective for the company from C$270.00 to C$322.00 in a research report on Thursday, October 2nd. Bank of America upped their price objective on shares of 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 given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$269.38.

Franco-Nevada Trading Up 0.2%

Shares of TSE FNV opened at C$286.16 on Friday. Franco-Nevada has a 12-month low of C$157.70 and a 12-month high of C$314.53. The company has a market cap of C$55.14 billion, a P/E ratio of 70.31, a P/E/G ratio of 5.00 and a beta of 0.76. The stock has a fifty day moving average price of C$270.22 and a 200 day moving average price of C$241.32.

Insider Activity

In related news, insider Bonavie Tek sold 250 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of C$263.10, for a total transaction of C$65,776.00. Also, 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. The trade was a 9.45% decrease in their position. Insiders have sold 15,560 shares of company stock valued at $4,228,233 over the last quarter. Corporate insiders own 0.69% of the company’s stock.

About Franco-Nevada

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.