Franco-Nevada (TSE:FNV) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$264.48 and traded as high as C$303.11. Franco-Nevada shares last traded at C$302.91, with a volume of 406,851 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FNV. CIBC lifted their price objective on shares of Franco-Nevada from C$315.00 to C$460.00 in a research report on Friday, October 10th. TD Securities decreased their price target on Franco-Nevada from C$247.00 to C$225.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. UBS Group upped their price objective on Franco-Nevada from C$260.00 to C$270.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating and raised their target price for the stock from C$322.00 to C$350.00 in a research report on Wednesday, October 22nd. Finally, Royal Bank Of Canada upgraded Franco-Nevada from a “hold” rating to a “moderate buy” rating and set a C$250.00 target price for the company in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Franco-Nevada has a consensus rating of “Buy” and an average target price of C$287.33.

Franco-Nevada Stock Up 3.5%

The stock has a fifty day moving average of C$281.82 and a two-hundred day moving average of C$264.48. The stock has a market cap of C$58.39 billion, a price-to-earnings ratio of 63.50, a price-to-earnings-growth ratio of 5.00 and a beta of 0.70.

Franco-Nevada (TSE:FNV) (NYSE:FNV) last issued its earnings results on Monday, November 3rd. The company reported C$1.43 earnings per share (EPS) 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$679.08 million during the quarter. On average, research analysts expect that Franco-Nevada Co. will post 3.1114111 EPS for the current year.

Insider Buying and Selling

In other Franco-Nevada news, insider Bonavie Tek sold 115 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of C$290.52, for a total transaction of C$33,409.80. 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. Franco-Nevada’s short-term financial performance is linked to the price of commodities and the amount of production from its portfolio of producing assets. Its long-term performance is affected by the availability of exploration and development capital.