Franco-Nevada (TSE:FNV) Sets New 1-Year High - Here's Why

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 mid-day trading on Thursday . The stock traded as high as C$279.37 and last traded at C$279.28, with a volume of 95503 shares. The stock had previously closed at C$275.37.

Wall Street Analyst Weigh In

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

Franco-Nevada Stock Up 1.4%

The stock's fifty day moving average price is C$237.29 and its 200-day moving average price is C$228.86. The company has a market capitalization of C$53.87 billion, a price-to-earnings ratio of 68.68, a P/E/G ratio of 5.00 and a beta of 0.53.

Insider Buying and Selling at Franco-Nevada

In related news, Director Paul Brink sold 14,251 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of C$232.91, for a total transaction of C$3,319,153.38. Also, insider Adrian Wong sold 500 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of C$275.00, for a total value of C$137,500.00. Following the completion of the transaction, the insider owned 9,613 shares in the company, valued at approximately C$2,643,575. This represents a 4.94% decrease in their ownership of the stock. Over the last 90 days, insiders sold 27,561 shares of company stock worth $6,957,012. 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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