Franco-Nevada (TSE:FNV) Stock Price Expected to Rise, CIBC Analyst Says

Key Points

• CIBC has raised its target price for Franco-Nevada from C$315.00 to C$460.00, indicating a potential upside of 61.28% from the previous close.
• Insiders have recently sold a total of 15,560 shares of Franco-Nevada stock, suggesting a decrease in their ownership, which currently stands at 0.69%.
• The stock is currently rated as a "Buy" by analysts, with an average target price of C$269.38, despite recent downgrades from other research firms.

Franco-Nevada (TSE:FNV - Get Free Report) NYSE: FNV had its target price raised by equities researchers at CIBC from C$315.00 to C$460.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC's price target would suggest a potential upside of 61.28% from the stock's previous close.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group downgraded shares of Franco-Nevada from a "buy" rating to a "hold" rating and raised their target price for the company from C$270.00 to C$322.00 in a research report on Thursday, October 2nd. Bank of America increased their price target on shares of Franco-Nevada from C$255.00 to C$290.00 in a report on Friday, August 29th. Three analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$269.38.

Franco-Nevada Trading Down 0.2%

Shares of TSE:FNV traded down C$0.51 during midday trading on Friday, reaching C$285.21. 128,595 shares of the company were exchanged, compared to its average volume of 310,722. Franco-Nevada has a one year low of C$157.70 and a one year high of C$314.53. The business's fifty day moving average is C$268.95 and its two-hundred day moving average is C$240.76. The stock has a market cap of C$54.96 billion, a PE ratio of 70.08, a price-to-earnings-growth ratio of 5.00 and a beta of 0.76.

Insiders Place Their Bets

In other Franco-Nevada news, insider Adrian Wong sold 500 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of C$275.00, for a total transaction of C$137,500.00. Following the completion of the sale, the insider owned 9,613 shares in the company, valued at C$2,643,575. The trade was a 4.94% decrease in their ownership of the stock. Also, insider Christian Thatcher sold 6,000 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of C$273.00, for a total transaction of C$1,638,000.00. In the last quarter, insiders have sold 15,560 shares of company stock valued at $4,228,233. 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.

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