Franco-Nevada (TSE:FNV) Reaches New 1-Year High - What's Next?

Key Points

• Franco-Nevada's stock reached a new 52-week high, trading at C$294.10 during mid-day trading, an increase from a previous close of C$279.26.
• Analysts have adjusted their price targets for the company, with Bank of America raising theirs to C$290.00, while the average target price remains at C$240.00 with a consensus rating of "Strong Buy."
• Insider trading activity is notable, with two insiders selling a total of 12,000 shares recently, which represents a significant decrease in their ownership of the firm's stock.

Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV's share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$294.10 and last traded at C$293.34, with a volume of 656609 shares traded. The stock had previously closed at C$279.26.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Canaccord Genuity Group increased their price target on Franco-Nevada from C$262.00 to C$267.00 in a report on Tuesday, June 10th. BMO Capital Markets increased their price target on Franco-Nevada from C$260.00 to C$261.00 in a report on Wednesday, May 28th. Finally, Bank of America increased their price target on Franco-Nevada from C$255.00 to C$290.00 in a report on Friday, August 29th. Three analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Strong Buy" and an average target price of C$240.00.

Franco-Nevada Stock Up 5.6%

The firm has a market capitalization of C$56.84 billion, a P/E ratio of 72.47, a P/E/G ratio of 5.00 and a beta of 0.53. The stock has a fifty day moving average of C$244.12 and a 200-day moving average of C$231.81.

Insider Buying and Selling

In other news, insider Christian Thatcher sold 6,000 shares of the firm's stock in a transaction that occurred on 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. Also, insider Sandip Rana sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were 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 directly owned 57,483 shares of the company's stock, valued at approximately C$15,777,588.94. The trade was a 9.45% decrease in their ownership of the stock. Insiders have sold 27,561 shares of company stock valued at $6,957,012 in the last ninety days. 0.69% of the stock is owned by company insiders.

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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