Franco-Nevada (TSE:FNV) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Franco-Nevada's stock price has surpassed its 200-day moving average, trading at C$258.83 with a high of C$259.61.
• Bank of America raised its price target for Franco-Nevada from C$255.00 to C$290.00, contributing to an overall consensus rating of "Strong Buy."
• Insider activity saw Director Paul Brink selling 14,251 shares for over C$3.3 million, indicating significant transactions within the company.

Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV's stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$225.68 and traded as high as C$259.61. Franco-Nevada shares last traded at C$258.83, with a volume of 283,911 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on FNV shares. Canaccord Genuity Group lifted their price target on shares of Franco-Nevada from C$262.00 to C$267.00 in a research note on Tuesday, June 10th. Bank of America lifted their target price on shares of Franco-Nevada from C$255.00 to C$290.00 in a report on Friday, August 29th. Finally, BMO Capital Markets raised their price objective 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 company. Based on data from MarketBeat.com, Franco-Nevada has a consensus rating of "Strong Buy" and an average target price of C$240.00.

Franco-Nevada Stock Performance

The stock has a market cap of C$50.56 billion, a PE ratio of 64.46, a PEG ratio of 5.00 and a beta of 0.45. The stock has a fifty day moving average price of C$231.82 and a 200 day moving average price of C$226.14.

Insider Buying and Selling 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. 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.