Franco-Nevada (TSE:FNV) Reaches New 12-Month High - Here's Why

Key Points

• Franco-Nevada's stock reached a new 52-week high at C$245.57, with a last trading price of C$244.20.
• Various brokerages have raised target prices for Franco-Nevada shares, with CIBC setting the highest target at C$280.00.
• Insider activity included significant sales by directors, with Director Paul Brink selling 14,251 shares for over C$3.3 million.

Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV's stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$245.57 and last traded at C$244.20, with a volume of 9569 shares changing hands. The stock had previously closed at C$242.41.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FNV. Canaccord Genuity Group boosted their target price on shares of Franco-Nevada from C$262.00 to C$267.00 in a research report on Tuesday, June 10th. Bank of America dropped their target price on shares of Franco-Nevada from C$272.00 to C$266.00 in a research report on Wednesday, May 28th. CIBC boosted their target price on shares of Franco-Nevada from C$260.00 to C$280.00 in a research report on Thursday, April 17th. BMO Capital Markets boosted their target price on shares of Franco-Nevada from C$260.00 to C$261.00 in a research report on Wednesday, May 28th. Finally, Stifel Nicolaus boosted their target price on shares of Franco-Nevada from C$220.00 to C$265.00 in a research report on Monday, April 21st.

Franco-Nevada Trading Up 0.5%

The company's 50-day simple moving average is C$225.38 and its 200-day simple moving average is C$220.17. The stock has a market capitalization of C$33.07 billion, a price-to-earnings ratio of -52.63, a PEG ratio of 5.00 and a beta of 0.68.

Insider Activity at Franco-Nevada

In other news, Director Paul Brink sold 14,251 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of C$232.91, for a total value of C$3,319,153.38. Also, Director Boris De Vries sold 1,500 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of C$241.96, for a total transaction of C$362,932.65. 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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