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

Shares of Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$244.26 and traded as high as C$291.90. Franco-Nevada shares last traded at C$287.99, with a volume of 448,762 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FNV. Canaccord Genuity Group cut Franco-Nevada from a “buy” rating to a “hold” rating and increased their target price for the company from C$270.00 to C$322.00 in a report on Thursday, October 2nd. Bank of America increased their target price on Franco-Nevada from C$255.00 to C$290.00 in a report on Friday, August 29th. Finally, CIBC increased their target price on Franco-Nevada from C$315.00 to C$460.00 in a report on Friday, October 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$269.38.

Franco-Nevada Trading Up 0.9%

The firm has a fifty day simple moving average of C$277.05 and a two-hundred day simple moving average of C$244.26. The firm has a market cap of C$55.50 billion, a PE ratio of 70.76, a PEG ratio of 5.00 and a beta of 0.76.

Insiders Place Their Bets

In other Franco-Nevada news, insider Sandip Rana sold 6,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$274.47, for a total value of C$1,646,844.00. Following the completion of the sale, the insider owned 57,483 shares in the company, valued at approximately C$15,777,588.94. This trade represents a 9.45% decrease in their position. Also, insider Adrian Wong sold 500 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$275.00, for a total value of C$137,500.00. Following the completion of the sale, the insider owned 9,613 shares of the company’s stock, valued at approximately C$2,643,575. This trade represents a 4.94% decrease in their position. In the last quarter, insiders have sold 15,560 shares of company stock worth $4,228,233. Insiders own 0.69% of the company’s stock.

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.