Franco-Nevada (TSE:FNV) Share Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Franco-Nevada's shares have recently surpassed their 200-day moving average, closing at C$245.01 after reaching a high of C$245.81 during trading.
• Analysts have expressed positive sentiment, with multiple firms increasing their price targets for the stock, with CIBC raising their target to C$280.00.
• Insider transactions are also noteworthy, with Director Paul Brink selling over C$3.3 million worth of shares recently.

Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$220.57 and traded as high as C$245.81. Franco-Nevada shares last traded at C$245.01, with a volume of 289,824 shares traded.

Wall Street Analyst Weigh In

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

Franco-Nevada Trading Down 0.0%

The stock has a market cap of C$33.23 billion, a P/E ratio of -52.88, a P/E/G ratio of 5.00 and a beta of 0.68. The company has a 50-day moving average price of C$225.70 and a two-hundred day moving average price of C$220.92.

Insiders Place Their Bets

In related news, Director Paul Brink sold 14,251 shares of the business's stock in a transaction 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, Director Boris De Vries sold 1,500 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of C$241.96, for a total value of C$362,932.65. 0.69% of the stock is owned by insiders.

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.