Franco-Nevada (TSE:FNV) Stock Passes Above 200 Day Moving Average Following Insider Selling

Key Points

• Franco-Nevada (TSE:FNV) shares surpassed their 200-day moving average after an insider purchase, reaching a high of C$273.65 during trading.
• Analysts have raised their price targets, with Bank of America increasing it to C$290.00, reflecting strong market optimism, as the stock currently holds a consensus rating of "Strong Buy."
• The company operates as a precious-metals-focused royalty and investment business, generating revenue primarily from gold, silver, and platinum without conducting mining or exploration activities.

Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV's stock price crossed above its 200-day moving average during trading on Tuesday after an insider bought additional shares in the company. The stock has a 200-day moving average of C$228.53 and traded as high as C$273.65. Franco-Nevada shares last traded at C$271.85, with a volume of 262,040 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FNV shares. Canaccord Genuity Group increased their price objective on shares of Franco-Nevada from C$262.00 to C$267.00 in a research report on Tuesday, June 10th. BMO Capital Markets increased their price objective on shares of Franco-Nevada from C$260.00 to C$261.00 in a research report on Wednesday, May 28th. Finally, Bank of America upped their target price on shares of Franco-Nevada from C$255.00 to C$290.00 in a report on Friday, August 29th. Three equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Franco-Nevada has an average rating of "Strong Buy" and a consensus target price of C$240.00.

Franco-Nevada Stock Performance

The company has a market capitalization of C$53.53 billion, a PE ratio of 68.25, a P/E/G ratio of 5.00 and a beta of 0.53. The company's 50-day simple moving average is C$239.42 and its 200-day simple moving average is C$229.96.

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.