Bank of America Cuts Franco-Nevada (TSE:FNV) Price Target to C$266.00

Franco-Nevada (TSE:FNV) (NYSE:FNV) had its target price reduced by analysts at Bank of America from C$272.00 to C$266.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Bank of America‘s price objective points to a potential upside of 14.42% from the company’s previous close.

A number of other research firms also recently commented on FNV. CIBC lifted their target price on Franco-Nevada from C$260.00 to C$280.00 in a report on Thursday, April 17th. National Bankshares cut their price objective on Franco-Nevada from C$220.00 to C$215.00 in a research report on Tuesday, March 11th. Stifel Nicolaus boosted their price target on shares of Franco-Nevada from C$220.00 to C$265.00 in a research note on Monday, April 21st. BMO Capital Markets upgraded shares of Franco-Nevada to a “strong-buy” rating in a research note on Wednesday, April 16th. Finally, TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a C$152.00 target price for the company. in a research note on Tuesday, March 11th.

Franco-Nevada Trading Up 0.0%

TSE FNV traded up C$0.08 on Wednesday, reaching C$232.48. 131,861 shares of the stock were exchanged, compared to its average volume of 306,604. The company’s 50-day simple moving average is C$226.93 and its two-hundred day simple moving average is C$200.23. The firm has a market capitalization of C$31.55 billion, a PE ratio of -50.21, a PEG ratio of 5.00 and a beta of 0.68. Franco-Nevada has a one year low of C$156.31 and a one year high of C$245.55.

Insiders Place Their Bets

In other Franco-Nevada news, Senior Officer Christopher Bell sold 731 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of C$224.94, for a total transaction of C$164,432.82. Also, Senior Officer Lena Miller sold 1,700 shares of Franco-Nevada stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of C$210.37, for a total transaction of C$357,620.50. In the last quarter, insiders sold 16,054 shares of company stock worth $3,563,292. 0.69% of the stock is owned by company insiders.

About Franco-Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.