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

Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) passed 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 trading hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on FNV. CIBC lifted their price target on Franco-Nevada from C$315.00 to C$460.00 in a research report on Friday, October 10th. Bank of America boosted their target price on Franco-Nevada from C$255.00 to C$290.00 in a research report on Friday, August 29th. Finally, Canaccord Genuity Group cut Franco-Nevada from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$270.00 to C$322.00 in a research report on Thursday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Franco-Nevada has an average rating of “Buy” and an average price target of C$269.38.

Franco-Nevada Stock Up 0.9%

The company has a 50-day moving average of C$277.05 and a 200 day moving average of C$244.26. The firm has a market capitalization of C$55.50 billion, a PE ratio of 70.76, a PEG ratio of 5.00 and a beta of 0.76.

Insider Transactions at Franco-Nevada

In other news, Director Boris De Vries sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of C$262.30, for a total value of C$524,598.00. Following the completion of the transaction, the director directly owned 4,770 shares in the company, valued at approximately C$1,251,166.23. This represents a 29.54% decrease in their position. Also, insider Adrian Wong sold 500 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of C$272.00, for a total value of C$136,000.00. Following the completion of the transaction, the insider owned 9,613 shares of the company’s stock, valued at C$2,614,736. The trade was a 4.94% decrease in their ownership of the stock. In the last three months, insiders sold 15,560 shares of company stock worth $4,228,233. Company 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.