Franco-Nevada (TSE:FNV) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Franco-Nevada's share price has increased above its 200-day moving average, reaching a high of C$279.50 and closing at C$276.54 during trading.
• Several brokerages have raised their price targets for Franco-Nevada, with Bank of America increasing its target from C$255.00 to C$290.00, reflecting strong analyst sentiment.
• Insider activity has seen sales totaling approximately C$6.96 million in the past 90 days, indicating notable changes in insider positions.

Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV's stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$231.48 and traded as high as C$279.50. Franco-Nevada shares last traded at C$276.54, with a volume of 311,693 shares.

Analyst Ratings Changes

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

Franco-Nevada Stock Performance

The business's 50 day moving average is C$245.65 and its 200 day moving average is C$232.76. The stock has a market cap of C$56.84 billion, a price-to-earnings ratio of 72.47, a price-to-earnings-growth ratio of 5.00 and a beta of 0.53.

Insider Activity at Franco-Nevada

In other Franco-Nevada news, 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. Also, insider Bonavie Tek sold 250 shares of Franco-Nevada stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of C$263.10, for a total transaction of C$65,776.00. Over the last ninety days, insiders have sold 29,811 shares of company stock worth $7,547,386. 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.