Franco-Nevada (TSE:FNV) Hits New 52-Week High – Time to Buy?

Shares of Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$328.68 and last traded at C$323.47, with a volume of 234443 shares traded. The stock had previously closed at C$312.64.

Wall Street Analysts Forecast Growth

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

Franco-Nevada Stock Performance

The company’s 50 day moving average price is C$284.74 and its 200-day moving average price is C$265.96. The company has a market cap of C$61.36 billion, a price-to-earnings ratio of 66.73, a PEG ratio of 5.00 and a beta of 0.70.

Franco-Nevada (TSE:FNV) (NYSE:FNV) last released its earnings results on Monday, November 3rd. The company reported C$1.43 EPS for the quarter. The business had revenue of C$679.08 million during the quarter. Franco-Nevada had a negative net margin of 57.55% and a negative return on equity of 10.83%. As a group, sell-side analysts forecast that Franco-Nevada Co. will post 3.1114111 earnings per share for the current year.

Insider Buying and Selling at Franco-Nevada

In other 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. 0.69% of the stock is currently 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. 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.