Franco-Nevada (TSE:FNV) Hits New 52-Week High - Should You Buy?

Key Points

• Franco-Nevada Co. has reached a new 52-week high of C$314.53, trading at C$309.96 with a volume of 414,105 shares.
• Several research firms have increased their target prices for Franco-Nevada, with Bank of America raising it from C$255.00 to C$290.00.
• Insiders of the company have sold a total of 15,560 shares valued at over $4.2 million in the last three months, indicating potential concerns about stock performance.

Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV reached a new 52-week high during trading on Wednesday . The company traded as high as C$314.53 and last traded at C$309.96, with a volume of 414105 shares. The stock had previously closed at C$309.77.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FNV. Bank of America increased their target price on Franco-Nevada from C$255.00 to C$290.00 in a research note on Friday, August 29th. Canaccord Genuity Group increased their target price on Franco-Nevada from C$262.00 to C$267.00 in a research note on Tuesday, June 10th. Three investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Strong Buy" and an average target price of C$240.00.

Franco-Nevada Trading Up 0.1%

The firm has a fifty day moving average of C$257.58 and a 200 day moving average of C$237.09. The company has a market capitalization of C$59.73 billion, a P/E ratio of 76.16, a P/E/G ratio of 5.00 and a beta of 0.53.

Insiders Place Their Bets

In other Franco-Nevada news, insider Bonavie Tek sold 250 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of C$263.10, for a total value of C$65,776.00. Also, insider Christian Thatcher sold 6,000 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of C$273.00, for a total value of C$1,638,000.00. In the last three months, insiders sold 15,560 shares of company stock valued at $4,228,233. 0.69% of the stock is currently owned by company insiders.

About Franco-Nevada

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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