Franco-Nevada (TSE:FNV) Stock Price Crosses Above Two Hundred Day Moving Average After Analyst Downgrade

Key Points

• Franco-Nevada's stock price surpassed its 200-day moving average after Bank of America raised its price target from C$255.00 to C$290.00, with shares trading at C$303.42.
• Insider trading activity included Adrian Wong selling 500 shares and Christian Thatcher selling 6,000 shares, reflecting a potential decrease in confidence.
• The stock has received a consensus rating of "Buy" from analysts, with an average price target of C$246.88, indicating overall positive sentiment despite recent insider sales.

Shares of Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV passed above its 200-day moving average during trading on Thursday after Bank of America raised their price target on the stock from C$255.00 to C$290.00. The stock has a 200-day moving average of C$238.04 and traded as high as C$310.40. Franco-Nevada shares last traded at C$303.42, with a volume of 506,675 shares trading hands.

FNV has been the subject of several other reports. Canaccord Genuity Group upped their target price on Franco-Nevada from C$262.00 to C$267.00 in a research note on Tuesday, June 10th. BMO Capital Markets upped their price target on shares of Franco-Nevada from C$260.00 to C$261.00 in a report on Wednesday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of C$246.88.

Insider Buying and Selling

In other news, insider Adrian Wong sold 500 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 9,613 shares in the company, valued at C$2,643,575. This trade represents a 4.94% decrease in their position. Also, insider Christian Thatcher sold 6,000 shares of the firm's stock in a transaction dated 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. Insiders sold a total of 15,560 shares of company stock worth $4,228,233 over the last 90 days. 0.69% of the stock is owned by company insiders.

Franco-Nevada Trading Down 2.1%

The company's 50-day simple moving average is C$261.00 and its 200 day simple moving average is C$238.04. The stock has a market cap of C$58.47 billion, a P/E ratio of 74.55, a PEG ratio of 5.00 and a beta of 0.53.

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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