Canaccord Genuity Group Downgrades Franco-Nevada (TSE:FNV) to Hold

Key Points

• Canaccord Genuity Group has downgraded Franco-Nevada from a "buy" to a "hold" rating, setting a new price objective of C$322.00, which represents a potential upside of 6.10% from the current price.
• Bank of America also increased its price target for Franco-Nevada from C$255.00 to C$290.00, while the stock overall holds an average rating of "Buy".
• Recent insider transactions include a significant share sale by Directors totaling over C$2 million, reflecting a decrease in their positions in the company.

Franco-Nevada (TSE:FNV - Get Free Report) NYSE: FNV was downgraded by research analysts at Canaccord Genuity Group from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday,BayStreet.CA reports. They currently have a C$322.00 price objective on the stock, up from their prior price objective of C$270.00. Canaccord Genuity Group's price objective suggests a potential upside of 6.10% from the company's current price.

Separately, Bank of America raised their price objective on Franco-Nevada from C$255.00 to C$290.00 in a report on Friday, August 29th. Three investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Franco-Nevada has an average rating of "Buy" and a consensus target price of C$246.88.

Franco-Nevada Trading Down 2.1%

FNV traded down C$6.46 on Thursday, hitting C$303.50. The company had a trading volume of 224,674 shares, compared to its average volume of 309,741. The firm has a market cap of C$58.48 billion, a P/E ratio of 74.57, a PEG ratio of 5.00 and a beta of 0.53. Franco-Nevada has a 1 year low of C$157.70 and a 1 year high of C$314.53. The company's fifty day moving average price is C$259.37 and its 200 day moving average price is C$237.59.

Insider Buying and Selling at Franco-Nevada

In related news, Director Boris De Vries sold 2,000 shares of the stock in a transaction on 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 owned 4,770 shares in the company, valued at C$1,251,166.23. This trade represents a 29.54% decrease in their position. Also, insider Sandip Rana sold 6,000 shares of the firm's 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 transaction of C$1,646,844.00. Following the sale, the insider owned 57,483 shares of the company's stock, valued at approximately C$15,777,588.94. This represents a 9.45% decrease in their ownership of the stock. Over the last three months, insiders have sold 15,560 shares of company stock valued at $4,228,233. Corporate 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.

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