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

Franco-Nevada Co. (TSE:FNVGet Free Report) (NYSE:FNV)’s stock price passed above its 200-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 200-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 changing hands.

A number of other equities research analysts also recently commented on the stock. BMO Capital Markets increased their price objective on shares of Franco-Nevada from C$260.00 to C$261.00 in a research report on Wednesday, May 28th. Canaccord Genuity Group increased their price objective on shares of Franco-Nevada from C$262.00 to C$267.00 in a research report on Tuesday, June 10th. Three investment analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$246.88.

Get Our Latest Stock Analysis on FNV

Insider Transactions at Franco-Nevada

In related news, insider Adrian Wong sold 500 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of C$272.00, for a total value of C$136,000.00. Following the transaction, the insider directly owned 9,613 shares of the company’s stock, valued at C$2,614,736. This trade represents a 4.94% decrease in their position. Also, insider Christian Thatcher sold 6,000 shares of the stock in a transaction 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. Over the last three months, insiders sold 15,560 shares of company stock worth $4,228,233. Insiders own 0.69% of the company’s stock.

Franco-Nevada Trading Down 2.1%

The stock 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 stock’s 50 day moving average is C$261.00 and its two-hundred day moving average is C$238.04.

About Franco-Nevada

(Get Free Report)

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.

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