Franco-Nevada (TSE:FNV) Hits New 52-Week High - Time to Buy?

Key Points

• Franco-Nevada Co. reached a new 52-week high of C$279.37 during mid-day trading, last trading at C$279.28 with a trading volume of 95,503 shares.
• Various analysts have raised price targets for Franco-Nevada, with Bank of America increasing its target from C$255.00 to C$290.00, and the consensus rating remains a strong buy.
• Insider trading activity showed director Paul Brink sold 14,251 shares at an average price of C$232.91, contributing to a total insider sale of 27,561 shares worth nearly $7 million over the last 90 days.

Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV reached a new 52-week high during trading on Thursday . The company traded as high as C$279.37 and last traded at C$279.28, with a volume of 95503 shares trading hands. The stock had previously closed at C$275.37.

Analyst Ratings Changes

A number of research analysts recently commented on FNV shares. Bank of America raised their price objective on shares of Franco-Nevada from C$255.00 to C$290.00 in a research note on Friday, August 29th. Canaccord Genuity Group lifted their price target on shares of Franco-Nevada from C$262.00 to C$267.00 in a research report on Tuesday, June 10th. Finally, BMO Capital Markets lifted their price target on shares of Franco-Nevada from C$260.00 to C$261.00 in a research report on Wednesday, May 28th. Three research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Strong Buy" and a consensus price target of C$240.00.

Franco-Nevada Trading Down 1.8%

The stock has a market capitalization of C$53.12 billion, a PE ratio of 67.73, a PEG ratio of 5.00 and a beta of 0.53. The firm's 50-day simple moving average is C$241.70 and its two-hundred day simple moving average is C$231.17.

Insider Activity at Franco-Nevada

In other Franco-Nevada news, insider Sandip Rana sold 6,000 shares of Franco-Nevada stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of C$274.47, for a total transaction of C$1,646,844.00. Following the completion of the sale, the insider owned 57,483 shares of the company's stock, valued at C$15,777,588.94. This trade represents a 9.45% decrease in their position. Also, insider Christian Thatcher sold 6,000 shares of Franco-Nevada stock in a transaction on Monday, September 8th. The shares were sold at an average price of C$273.00, for a total transaction of C$1,638,000.00. Over the last 90 days, insiders sold 27,561 shares of company stock worth $6,957,012. 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.