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

Shares of Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$247.14 and traded as high as C$266.17. Franco-Nevada shares last traded at C$264.46, with a volume of 408,637 shares.

Analysts Set New Price Targets

FNV has been the subject of a number of research analyst reports. Bank of America lifted their target price on Franco-Nevada from C$255.00 to C$290.00 in a report on Friday, August 29th. CIBC raised their price objective on Franco-Nevada from C$315.00 to C$460.00 in a research note on Friday, October 10th. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating and raised their price objective for the company from C$322.00 to C$350.00 in a research note on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$272.88.

Franco-Nevada Stock Up 1.7%

The company has a 50-day simple moving average of C$279.97 and a two-hundred day simple moving average of C$247.14. The firm has a market cap of C$50.96 billion, a PE ratio of 64.98, a PEG ratio of 5.00 and a beta of 0.76.

Insiders Place Their Bets

In other news, insider Adrian Wong sold 500 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of C$272.00, for a total transaction of C$136,000.00. Following the transaction, the insider owned 9,613 shares of the company’s stock, valued at C$2,614,736. This represents a 4.94% decrease in their position. Also, insider Sandip Rana sold 6,000 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 57,483 shares in the company, valued at C$15,777,588.94. This represents a 9.45% decrease in their position. Insiders have sold 15,560 shares of company stock valued at $4,228,233 in the last quarter. 0.69% of the stock is currently owned by company 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.